A loan of $925 helped to purchase clothing for resale.


Marekh's story

Marekh, 39 years old, is from the small village of Tsnori. She is divorced and lives with her mother and her two children, 15 and 12 years old, both attending the local school. The family's only sources of income are the small monthly salary earned by Marekh working in a store as a saleslady and Marekh’s mother's retirement pension. This income is hardly enough to cover the family's food and everyday expenses. On several occasions, Marekh requested a loan from local financial institutions for starting a trading business, but she had no success. Her loan requests were always rejected because of her low income and lack of job experience, criteria usually demanded by the local credit providers.

Marekh's loan request was approved in the framework of a new joint initiative through 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.

Marekh will purchase stocks of clothes in Tbilisi (the capital city) for wholesale prices and resell them in her village for a profit. It will be hard work for Marekh, but according to her estimations, the business will be profitable and increase the family's income. The increased profit will be reinvested in the business to increase her stock and sales volume. Family members will be able to increase their spending to satisfy their daily needs in order to improve their living conditions.



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Loan details