A loan of $1,200 helped to build a greenhouse and purchase flower seeds.


Sofio's story

Sofio is 24 years old. She lives in the Kobuleti District with her 35-year-old husband, Mamuka, and her 16-year-old stepdaughter. The family's income comes from trading flowers. Sofio buys wholesale flowers and resells them with a price markup at the local market to earn a small monthly income. She has requested loans from local financial institutions several times for a family business start-up without any success. Sofio's loan request is rejected all the time due to her low income and her family’s poor living conditions. Sofio is requesting a loan from Credo to build a greenhouse and start a family business. Her loan request was approved within the framework of a new joint initiative of Kiva and Credo that envisions the provision of business start-up and re-startup credits with soft conditions to rural poor who do not have access to credit products as they are regarded as “high risk borrowers” due to low income. Sofio will use her loan to purchase building materials and flower seeds. She will grow her own flowers to sell. As she will not have to buy flowers from wholesalers, her profit will significantly grow. Sofio will use part of her profit to reinvest in her business and will also save for her family's well-being.



Loan details


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Loan details