A loan of $1,250 helped to buy and sell used clothing.

Zaira's story

Zaira is 63 years old. She lives in Batumi District with her husband and daughter. Her husband is provided with a retirement pension. Zaira requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and family’s poor living conditions.

Zaira rents out a flat and gets monthly income. Besides, she teaches Russian language lessons. This is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

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

With the received credit Zaira will trade in used clothing. She plans to purchase used clothing from the wholesalers and then resell it 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