A loan of $625 helped to purchase equipment and pay rent for her new beauty salon.


Mariam's story

Mariam is 21 years old. She lives in the small village of Sachkhere District with her parents and brother. Mariam 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 her family’s poor living conditions. The only source of the income for the family is from agricultural activities. In particular, they have two milking cows and 0.75 hectare of agricultural land. They produce dairy products to sell locally. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Mariam requested a loan from Credo to start a family business. Mariam 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 her credit, Mariam will purchase all the needed equipment, rent a commercial space and open a beauty salon. She had been working in a beauty salon and is very experienced in this field. The new business initiative, financed with the Kiva Start-up loan, will significantly increase the monthly income of the family and they will be able to improve their living conditions.



Loan details


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Loan details