A loan of $1,000 helped to trade clothes from Turkey.


Lena's story

43-year-old Lena lives with her 15 and 19 year old sons in Baghdati district. Lena requested loans from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected every time, because of low income and family’s poor living conditions.
The only source of the income for the family is from agriculture. They own a small plot of land, where vegetables are grown. Harvested products are used by the family and sold at the local market.
Lena requested a loan from Credo to start up a family business. Lena 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 Lena will start trading clothes from Turkey. She will go there to purchase products at the wholesale price, bring it to her district, and sell with the price markup among the villagers. The new business will give Lena an opportunity to increase the family income and to be able to provide proper living conditions for her children.



Loan details


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Loan details