A loan of $1,100 helped to begin to trade with used clothing.

Mariam's story

Mariam is 63 years old. She lives in Tkibuli District with her husband. Several times, Mariam requested a loan from local financial institutions for a family business start-up, but without any success. Each time, her loan request was rejected because of low income and her family’s poor living conditions.

The only source of the income for the family is a monthly pension of Mariam and her husband. It is hardly enough for food for the family. According to Credo estimations the family belongs to the 'subsistence poor' category.

Mariam 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-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as 'high risk borrowers' because of low income.

With the received credit, Mariam will begin to trade with used clothing. She will purchase used clothing at wholesale prices and then resell the items among her villagers. She had worked in this sphere and is experienced and hopes that it will be profitable. 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