A loan of $1,500 helped to buy clothing and household goods for resale.

Elza's story

Elza is a 45-year-old woman who lives in the Akhaltsikhe District with her son. Elza requested a loan from the local financial institutions several times for her family business start-up without any success. Her loan request was always rejected because of low income and the family’s poor living conditions. Elza’s only source of income is her small monthly salary, 250 Laris/month, as a waitress at a local cafe. This is hardly enough to buy food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Elza 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 credits with soft conditions to the country rural poor who do not have access to credit products. This group is regarded as “high-risk borrowers” because of low income. With the received credit, Elza will begin selling clothing and household goods. She plans to go to Turkey to purchase the clothing and household goods at wholesale prices and then resell them among her villagers. Elza will do her best to increase the family income and improve the living conditions for her son. This new business initiative, financed with the Kiva start-up loan, will significantly improve the life of the family.

Loan details

Lenders and lending teams

Loan details