A loan of $3,000 helped to purchase inventory to open a grocery store.


Jemal's story

Jemal is 27 years old. He lives in Khulo District with his wife and mother in-law. Jemal requested a loan from local financial institutions several times for a family business start-up, without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions. The family does not have a source of income. According to Credo estimations the family belongs to the subsistence poor category.

Jemal requested a loan from Credo to start-up a family business. Jemal 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 a 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 Jemal will purchase grocery inventory to open a grocery shop. He already has a commercial space ready to open a shop. After purchasing the inventory the family will start working in the shop themselves to decrease the expenses of paying salary to somebody else. This will increase the profit. Part of the profit they make will be used for reinvesting in the same business, in order to have a better variety of merchandise to offer to the clients and another part will be used for the family's well being.



Loan details


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Loan details