A loan of $475 helped to buy and sell bed-clothing.


Gulo's story

Gulo is 45 years old. She lives in the small village of Kaspi District with her two sons and a daughter-in-law. Gulo requested loans 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 the family’s poor living conditions. The only source of the income for the family is from agricultural activities. In particular, they have a plot of agricultural land and grow haricot. Gulo also works as a cleaner at local poultry-raising farm. There is hardly enough food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Gulo requested a loan from Credo to start-up a family business. Her loan request was approved in the framework 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. They do not have access to credit products, being regarded as “high risk borrowers,” because of low income. With the received credit Gulo will buy and sell bed-clothing. She plans to go to Turkey and buy bed-clothing from the wholesalers and then resale at higher price among her villagers. 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


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Loan details