A loan of $4,200 helped to open a grocey store.

Gulnara's story

Gulnara is 47 years old. She lives in Chiatura District. Gulnara 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 due to her low income and her family’s poor living conditions.

Gulnara is out of source now and has requested for a loan from Credo to start a family business. Her loan request was approved in the frames of a new joint initiative of Kiva and Credo. Start up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Gulnara will open a grocery store. She plans to purchase a stock of groceries and after opening the store work as a sales lady and increase her income. She will be able to improve her family's living conditions and purchase all the needed daily supplies. 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