A loan of $450 helped to begin to trade in clothing.

Lali's story

Lali is 27 years old. She lives in Zestaponi District with her mother, husband and 2 infant daughters. Lali requested a loan from local financial institutions several times for family business start-ups, but without any success. Her loan request was rejected each time because of low income and the family’s poor living conditions.

The only source of income for the family is a monthly pension of Lali’s mother and the small income earned by Lali, working as nurse in the local kindergarten. She earns 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.

Lali requested a loan from Credo to start-up a family business. Her loan request was approved in the frame of a new joint initiative of 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, Lali will sell clothing. She plans to buy clothing and then resell 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