A loan of $950 helped to rent a counter at the local market for trading in household goods and clothes.


Teona's story

Teona is 27 years old. She lives in Kutaisi district with her husband and mother in-law. Teona requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and her family’s poor living conditions.

Teona is trading in clothes and household goods. She purchases at the wholesale price and resells with a price markup among her villagers. Her husband is a seller at the local shop and earns a small monthly income. Khatuna’s mother in-law is a cook at a restaurant. The total family income is rarely enough to cover their monthly expenses.

Teona requested a loan from Credo to start-up family business. Teona 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 Teona will rent a counter at the local market. She will be able to purchase more stock of clothes and household goods and have a better choice to offer her clients. Having a counter at the market will help Khatuna to bring more regular customers and generate better profit. Part of the profit will be used for purchasing more products in order to expand the business; another part will be used for her family's well-being.



Loan details


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Loan details