A loan of $1,200 helped to open a grocery store.

Maradi's story

Maradi is 64 years old and is from Telavi district, East Georgia. She lives with her pensioner husband, son and daughter-in-law. Maradi had requested for a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of her low income and her family’s poor living conditions.

The only source of income for her family is the small incomes of her husband and son. Both are working as artisans: they repair cars and receive a small daily income. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Maradi requested loan from Credo for a start-up family business. Her loan request was approved in the frames of 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 country rural poor, who do not have access to credit products and who are regarded as “high risk borrowers” because of their low income. With the received credit Maradi will purchase all the needed equipment for the grocery store that she plans to open, in which she will work as a sales lady. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details