A loan of $2,800 helped to purchase her stock of basic groceries to open a grocery store.

Nino's story

Nino is 30 years old. She lives in Tsnori District with her 52-year-old mother and retired grandmother. Nino 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 the family’s poor living conditions.

The only source of the income for the family is the monthly pension of Nino’s grandmother. According to Credo estimations the family belongs to the subsistence poor category.

Nino requested a loan from Credo to start up a family business. Her loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisions provision of business start-up and restart-up 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, Nino will cover the costs of purchasing her stock of basic groceries. She owns a small commercial space where she will start a grocery store. As Nino doesn’t have to pay rent, the business will be more profitable and with the profit she plans to increase the turnover in her trade business gradually. Nino will work hard and she will be able to improve the living conditions for her family. With this loan, her family will generate enough income to access regular available credit products in the country’s capital market in the event they need them.

Loan details

Lenders and lending teams

Loan details