A loan of $1,200 helped to purchase clothing and household items for resale.

Larisa's story

Larisa is a 52-year-old and lives in Ozurgeti with her son and daughter-in-law.

Several times, Larisa has requested loans from local financial institutions for her trading business start-up, but without any success. Her loan request was rejected each time because of low income and the lack of experience in her new business. Income and experience are usually demanded by local credit providers.

The only source of income for the family is the small monthly income earned by Larisa, who is involved in a small-scale trading business. She buys clothing, dishes, cosmetics and different kinds of household items in Turkey and resells these items to nearby villages.

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

Larisa will purchase more clothing and household items in Turkey at wholesale prices and resell the items for a profit. It will be hard work for Larisa, but according to estimations, her business will be profitable and will increase the income of the family. The increased profit will be reinvested in clothing trading to increase her stock and sales volume.

The family members will be able to improve their living conditions. Larisa awaits your support.

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Loan details