A loan of $650 helped to buy materials for starting up a tea room.


Guljamal's story

Guljamal is a 61-year-old widow. She lives alone in Marneuli district. The only income for Guljamal is her pension, which is a very small amount. She has nobody to look after her. Guljamal has requested loans from local financial institutions several times for her business start-up without any success. Her loan requests have been rejected all the time because of her low income and poor living conditions. According to Credo estimations, she belongs in the subsistence poor category.

Guljamal requested a loan to start up her own business, which is opening a tea room. Guljamal has already bought all the needed equipment and now she needs a loan to buy raw materials. When Guljamal opens her tea room, she will have a lot of customers seeing as there is no other such place in her area. This business initiative will increase her monthly income and she will be able to improve her quality of life.

Guljamal's loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages providing business start-up and re-start-up credits with soft conditions to the rural poor, who do not have access to credit products being regarded as “high risk borrowers” because of low income.



Loan details


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Loan details