A loan of $600 helped to purchase a stock of second hand clothes for her shop.

Anna's story

Anna is 24 years old. She lives in the capital city of Georgia, Tbilisi with her 36-year-old husband. Anna 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 her low income and the family’s poor living conditions.

Anna has her own business. She is trading second-hand clothes. She is renting a small commercial space, purchases clothes at a wholesale price and sells them from her shop with a price mark-up to earn a small monthly income.

Anna requested a loan from Credo to start-up a family business. Anna 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-start-up 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 Anna will purchase a stock of second hand clothes for her shop. She wants to expand the business and have a better choice to offer to the clients. As Anna is already experienced in this field, she knows what type of clothes to buy and what is more consumable. This will increase the numbers of clients and sales so Anna will have more profit. Part of the profit she will use for reinvesting in her business and another part for covering the family's monthly expenses. 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