Funded

Total loan: $1,200
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Lali

Georgia
Batumi, Georgia / Tourism

A loan of $1,200 helped to purchase a bed to rent out the rooms for her tourism business.


Lali's story

Lali is 40 years old. She lives in Batumi District with her children: eight-year-old George and 10-year-old Sopho. Lali requested a loan from the local financial institutions several times for the family business start-up, but without any success. Her loan request was rejected every time because of the low income and the family’s poor living conditions. Lali has a bakery. She bakes pastries and sells them. Her income is really small and it’s hardly enough to feed her children. Lali requested a loan from Credo to start-up a family business. Lali has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of a business start-up and restart-up credits with soft conditions for 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, Lali will purchase a bed. She has few empty rooms in her house. After purchasing a bed, Lali will be able to rent the rooms out to tourists. As the Batumi district is a summer tourist area, Lali will have good numbers of clients and earn an additional income. With the increased income she will be able to provide better living conditions for her children.



Loan details

Loan length:

15 months
Disbursed date: May 30, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

15 months
Disbursed date: May 30, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo