A loan of $1,200 helped to purchase more stock of clothes for her trading business.

Marina's story

60-year-old Marina lives in Tskaltubo district with her son Aleksandre. Marina requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests were 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 trading. Marina is buying clothes from the big market in the capital city at the wholesale price, brings it to her district and sells with the price markup among the villagers.

Marina requested a loan from Credo to start-up a family business. Marina 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 the 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 Marina will purchase more stock of clothes for trading. She will have better choice to offer to her clients to better satisfy their needs. This will significantly increase the number of clients she has. She will have more clients and have better income. Marina will use part of the profit for reinvesting in the same field in order to expand her business, and another part she will use for her family's well being.

Loan details

Lenders and lending teams

Loan details