A loan of $1,500 helped to rent a shop to sell souvenirs and other such products.


Gulsunda's story

Gulsunda, 35 years old, lives in Senaki with her 38-year-old husband Levan, parents, and three children who are going to school. Gulsunda requested loans from local financial institutions several times for a family business start-up, but her requests were consistently rejected due to low income and the family’s poor living conditions.



Gulsunda sells perfume, buying at wholesale prices and selling with price markups to the local citizens. She also has a commercial space at the local market that she is renting out. Additionally, the family is persecuted, so they get a monthly income from the government. According to Credo estimations, the family belongs to the subsistence poor category.



Gulsunda requested a loan from Credo to start up a family business. Her loan request was approved within the framework of a 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 the country's rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” due to low income. With the received credit Gulsunda wants to rent a small place in the center of the city to open a shop where she will sell souvenirs and other such products. She will buy at wholesale prices and sell with price markups. This will increase her monthly profit. Gulsunda will use part of the profit to develop her business and another part to provide better living conditions for her family.



Loan details


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Loan details