A loan of $1,700 helped to begin a clothing business.

Telnaz's story

Telnaz is 43 years old. She lives in the Gardabani District with her daughter. Telnaz has requested a loan from local financial institutions several times for a family start-up business, but without any success. Her loan requests were rejected repeatedly, because of her family's low income and poor living conditions.

Telnaz is involved in agricultural activities. She has a plot of agricultural land, where she grows different kinds of vegetables. She sells the harvested products at local markets. It is hardly enough for food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Telnaz requested a loan from Credo to start a family business. She 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 reasonable conditions for rural poor people, who do not have access to commercial credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With this loan, Telnaz will begin a clothing business. She plans to purchase clothing at wholesale prices and then resell it at higher prices. This will increase her income and she will be able to provide better living conditions for her daughter. 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