A loan of $2,500 helped to start trading with clothes from Turkey.


Nodar's story

Nodar is 49 years old. He lives in Sachkhere district with his wife, sister, 24 year old son and 22 year old daughter. Nodar requested 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 family’s poor living conditions.
The main source of the income for the family is Nodar’s son’s monthly salary. He is an artisan and works on house constructions and renovations. Nodar’s sister is an invalid and she gets monthly pension from the local government institutions. Family monthly income is so small that it’s hardly enough to cover their food expenses.
Nodar requested loan from Credo to start-up family business. Nodar 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 Nodar will start trading with clothes. He will go to Turkey for purchasing clothes at the wholesale price, bring it to his district and resell among the villager with the price markup. Nodar’s daughter will help him in this business and they will work as hard as they can to earn good profit and expand the business. Increased income will significantly improve their living conditions.



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Loan details