A loan of $1,000 helped to start trading in second-hand clothes..


Elza's story

Elza is 38 years old. She lives in Ozurgeti district with her 44-year-old husband, Ilia.

Elza 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 low income and the family’s poor living conditions.

Elza’s husband, Ilia, is working at the local restaurant as a security guard and earns a small salary, which is the only source of income for the family.

Elza requested a loan from Credo to start up a family business. Elza 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, Elza will start trading in second-hand clothes. She will purchase at wholesale price and resell with a price markup among her villagers. She will expand her business with part of the profit and earn additional 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