A loan of $700 helped to start a business, trading in clothes and household goods.

Maia's story

Maia is 31 years old. She lives in Akhaltsikhe District with her mother, sister, 11-year-old daughter, and infant nephew. Maia requested a loan 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 salary of Maia’s mother. She is working as a cleaner at the local military police station and earns a small salary, which is not enough to feed a five-member family.

Recently, Maia requested a loan from Credo, to start up a family business. Her loan request was approved, in the frame of a new joint initiative of Kiva and Credo. The Start-up Loan program envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Maia will start trading. She will purchase clothes and household goods at the wholesale prices from the big market in the capital city, and bring the goods to her district, where she will sell them with a retail price mark-up among the villagers. She will reinvest the profit in the same business, in order to develop her trading activity. This will help her to bring additional income into the family and provide better living conditions for them.

Loan details

Lenders and lending teams

Loan details