A loan of $2,500 helped to begin a jewelry trading business.


Laura's story

Laura is 37 years old. She lives in Batumi district with her husband and two children. Laura’s husband is a goldsmith and gets orders to make jewelry. This is the only source of income for the family. It is hardly enough to feed the family. According to Credo estimations, the family belongs to the subsistence poor category. Laura has requested loans from local financial institutions several times for family business start-ups, but without any success. Her loan requests were rejected all the time because of low income and family’s poor living conditions. Laura requested a loan from Credo to start a family business. Laura 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 this credit, Laura will rent a counter and begin a jewelry trade. She plans to purchase different kinds of jewelry and gold products for resale. As her husband is involved in the jewelry business, she 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


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Loan details