A loan of $1,000 helped to renovate an unused commercial space as living space to rent it out.


Naira's story

Naira is 57 years old. She lives in Tbilisi with her 66-year-old husband, son and retired mother in-law. Naira requested a loan from local financial institutions several times for a family business startup, but without any success. Her loan request was rejected because of her low income and the family’s poor living conditions.

Naira works in a restaurant as an assistant to the cook. Her husband is a driver for the local mini-bus and her son bakes bread at the local bakery. They all get very small monthly payments, which is not enough to support themselvs. According to Credo's estimations, the family belongs to the subsistence poor category.

Naira requested a loan from Credo to start a family business, which was stopped recently because of financial problems. Her loan request was approved in the frame of a new joint initiative of Kiva and Credo. This startup loan program provides business startup and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, because they are regarded as “high-risk borrowers” because of their low income. With this loan, Naira will renovate an unused commercial space and make it into a living space. She will rent the room and will get a fixed monthly income. The new business initiative, financed with this Kiva startup loan, will significantly improve the living conditions of the family.



Loan details


Lenders and lending teams



Loan details