A loan of $950 helped to buy clothing to sell.


Irma's story

Irma is 36 years old and lives in Tskaltubo District with her husband, their two children and her father-in-law who receives a retirement pension. Irma has requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests have been rejected each time, due to low family income and their poor living conditions.

The only source of income for the family is the small amount earned by Irma’s husband who works locally as an artisan. He earns a total of 250 Laris per month. It is hardly enough for food for the family. According to Credo's estimations, the family belongs to the subsistence poor category.

Irma has 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 aims to provide business start-up and re-start-up credits with soft conditions to poor rural people who do not have access to credit products. These poor rural people are regarded as “high risk borrowers” due to their low income.

With this loan, Irma will begin trading in clothing. She plans to purchase clothing at wholesale prices and then resell at higher prices. This will increase her family's income. The new business initiative, financed with the Kiva start-up loan, will significantly improve her family's living conditions.



Loan details


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Loan details