A loan of $800 helped to start up a trading business.

Ekaterina's story

Ekaterina is from the small town of Ozurgeti. She is 22 years old, married, and lives with her husband, an infant child and her mother-in-law. Ekaterina’s husband works as a distributor, and her mother-in-law is an actress. Both of those family members get small monthly salaries. The income is hardly enough to cover even food and everyday expenses for the family.

Ekaterina requested a loan from local financial institutions several times for starting a trading business, but without any success. Her loan request was rejected all the time because of her low income and the lack of experience in her job, which is usually demanded by the local credit providers.

Her loan request was approved in the framework 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 a family-owned car, Ekaterina will purchase kitchen utensils and different kinds of household items in Turkey for wholesale prices and resell them in her town and nearby villages for a profit. It will be hard work for Ekaterina, but according to estimations, her business will be profitable and increase the income of the family. The increased profit will be reinvested in the trading business to increase her stock and sales volume. The family members will be able to increase their spending to satisfy their daily needs in order to improve their living conditions.

Loan details

Lenders and lending teams

Loan details