A loan of $700 helped to start trading with clothes.

Asmat's story

Asmat is 54 years old. She lives in Matani village, Akhmeta district with her 25-year-old son, David. Asmat 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. The only source of the income for the family is David’s salary. He is working at the local mail office and earns a small monthly salary.

Asmat requested a loan from Credo to start-up a family business. Asmat 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, Asmat will start trading with clothes. She will purchase clothes at the wholesale price from the big market in the capital city, bring them to her district and sell to her villagers with a price markup. This will give her an opportunity to earn additional income for the family and provide better living conditions.

Loan details

Lenders and lending teams

Loan details