Funded

Total loan: $1,300
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Nino

Georgia
Lagodekhi, Georgia / Clothing Sales

A loan of $1,300 helped to purchase clothing for resale.


Nino's story

Nino is from the small town of Lagodekhi. She is 48 years old, married, and lives with her husband, son and a daughter-in-law. Nino requested a loan from local financial institutions several times to start 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. The only source for the family is the small monthly salary earned by Nino’s husband working as a cook. The income is hardly enough for the four-member family. Nino’s loan request was approved in the framework of a new joint initiative between 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 loan, Nino 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 Nino, but according to estimations, her business will be profitable and increase the income of the family. The increased profit will be reinvested in her 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:

20 months
Disbursed date: February 13, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

20 months
Disbursed date: February 13, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo