A loan of $3,925 helped to start trading clothes.


Shengel's story

Shengel is 32 years old. She lives in Lagodekhi District with her 43-year-old husband and two children (8 and 10 years old). Shengel requested loan from local financial institutions several times for her family business start-up, but without any success. Her loan request was rejected each time, because of low income and family’s poor living conditions.
Her family has a greenhouse, where different types of vegetables are grown. They are well known among the villagers as a hardworking people that always have a good harvest. The products are sold to the resellers to earn small monthly income, which is the only source of living for them.
Shengel requested a loan from Credo to start up a family business. Shengel 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 Shengel wants to start trading clothes. She will buy at the wholesale price to resell with a price markup among the villagers. This will help her to earn an additional income for the family and improve their living conditions. Shengel wants to ensure a better life for her children and make sure they get a proper education in the future. For this she will work as hard as she can and will try to develop her business.



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Loan details