A loan of $2,000 helped to open a beauty salon.

Guranda's story

Guranda is 34 years old. She lives in Batumi District with her husband, two children and her mother-in-law. Her mother-in-law receives a retirement pension. Guranda has requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time because of low income and the family’s poor living conditions.

The only source of the income for the family is a car wash, which is rented out. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Guranda requested a loan from Credo to start up a family business. Guranda has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With her credit Guranda will open a beauty salon in her house, which is located in the center of Batumi. She will purchase all the necessary equipment for the salon. This will be an additional and stable source of income for the family. 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