A loan of $1,600 helped to purchase clothing for resale.


Venera's story

Venera is 59 years old. She lives in the Gori District with her husband, who has a retirement pension. Her husband also has a counter at local market where he sells different kinds of spices. Venera has requested a loan from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions. According to Credo estimations the family belongs to the subsistence poor category.

Venera has requested a loan from Credo to start-up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. Start-up loan program includes provisions for business start-up and start again credits with soft repayment conditions for the country rural poor who do not have access to credit products. They are regarded as “high risk borrowers” because of low income.

With the received credit Venera plans to purchase clothing at wholesale prices and then resell with a price markup among her villagers. This will increase the income of her family. This new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details