Funded

Total loan: $650
Powered by 22 lenders

Irma

Georgia
Khashuri, Georgia / Clothing Sales

A loan of $650 helped to start up a trading business.


Irma's story

Irma is from the small town of Khashuri. She is 40 years old, married, and lives with her husband and two children (21 and 16 years old). Irma 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 a requirement for the local credit providers. Irma’s business is a small canteen at the local school, where she sells cheese pies, juices and different kinds of snacks among students. 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 the received credit, Irma will purchase clothing and bed clothing at wholesale prices and resell them in her town and nearby villages for a profit. It will be hard work for Irma, 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

Loan length:

14 months
Disbursed date: February 8, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: February 8, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo