A loan of $675 helped to purchase clothes for resale.


Venera's story

Venera is 61 years old. She lives in Kvareli District alone with her granddaughter. She is 11 years old and she goes to school. Venera requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and family’s poor living conditions.

Venera makes Georgian cheese bread and distributes it to the grocery stores and the family has very small monthly income. According to Credo estimations the family belongs to the subsistence poor category.

Venera requested a loan from Credo to start-up family business. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Venera will purchase clothes at wholesale price and then sell them for profit in her district among her neighbors. Venera will use the profit for reinvesting in the same business and renovating her house to have better conditions for her granddaughter. The new business initiative financed with the Kiva start-up loan will significantly improve the living conditions of the family.



Loan details


Lenders and lending teams



Loan details