A loan of $1,300 helped to open a flower shop.

Sopio's story

Sopio is 32 years old. She lives in the Chiatura district with her ten-year-old son. Sopio had requested a loan from local financial institutions several times for a family business start up, without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

The only source of the income for the family is the monthly salary earned by Sopio as a sales lady at a flower shop. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Sopio requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start up loan program envisages provision of business start ups and re-startups with credits for soft conditions to the country rural poor, who do not have access to credit products, since they are regarded as “high risk borrowers” because of low income.

With the received credit, Sopio will open her own flower shop. As she is experienced in this field, she hopes the business will be profitable and she will be able to increase her income. 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