A loan of $325 helped to begin selling clothes.


Ioseb's story

Ioseb is 42 years old. He lives in a small village of Gori District with his wife and three children. Ioseb requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a plot of agricultural land where maize is grown. They sell harvested produce locally. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Ioseb requested loan from Credo to start up a family business. Ioseb 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 his credit Ioseb and his wife will begin selling clothes. They will purchase clothes from the wholesalers and then resell at a higher price. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve their living conditions.



Loan details


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Loan details