A loan of $600 helped to buy and sell clothing.

Nargiz's story

Nargiz is 55 years old. She lives in Tkibuli District, with husband, Guram. Several times, Nargiz requested a loan from local financial institutions for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is her husband’s salary, working as an artisan. He makes a total of 250 Laris per month. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Nargiz requested a loan from Credo to start-up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits, with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as 'high risk borrowers' because of low income.

With the received credit, Nargiz will trade in clothing. She plans to buy clothing from the wholesalers and resell locally, at a higher price. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details