A loan of $1,000 helped to begin trade with jewelry.


Elza's story

Elza is 49 years old and from the Akhaltsikhe district. She lives with her husband, son, daughter-in-law and two infant granddaughters. Elza requested loans 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 income for the family is the monthly income of her husband, working as a driver. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category. Elza 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. This start-up loan program envisages the provision of business start-up and re-startup 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 Elza will begin trade with jewelry. She plans to purchase jewelry at wholesale prices in Tbilisi, the capital city of Georgia, and then resell it among her villagers with a price markup. 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


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Loan details