A loan of $1,800 helped to purchase grocery stock and open a grocery shop.

Nino's story

Nino is 34 years old. She lives in the Telavi district with her husband, George, and her brother-in-law.

Nino requested loans from local financial institutions several times for family business start-ups, but without any success. Her loan requests were rejected all the time because of low income and the family’s poor living conditions.

Nino is working in the bakery as a baker. Her husband is working at the local communication warehouse. They both get small monthly salaries.

Nino requested a loan from Credo to start a family business. Nino 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 Nino will purchase grocery stock and open a grocery shop. She has rented a commercial space that was used as a shop before. The shop already has the entire needed inventory so Nino will not have much expense. She will fill up the shop with products and start selling them to earn an additional income for the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details