A loan of $4,000 helped to purchase a sewing machine and materials for sewing bedclothes.


Anastasia's story

Anastasia is a 62-year-old widow. She lives in Telavi, East Georgia, with her two daughters, Maia and Tinatin. Anastasia requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected all the time because of her low income and the family’s poor living conditions.

The only source of the income for the family is the small monthly salary of Anastasia. She is professional accountant and gets private orders to do accountancy for different companies. According to Credo estimations, the family belongs to the subsistence poor category.

Anastasia requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages 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, being regarded as “high-risk borrowers” because of low income.

With the received credit, Anastasia will purchase a sewing machine and materials for sewing bedclothes. She has a basement in her house, which will be used as a workshop, so she will not have to pay money for rent. The bedclothes she makes will be sold locally at the markets and among her villagers. As Anastasia won’t have too many expenses except buying materials, she hopes the business will be profitable. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family, and Anastasia will be able to provide a better life for her daughters.



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