A loan of $1,800 helped to open a shoe shop.


Irina's story

Irina is 25 years old. She lives in the Khelvachauri District with husband Ucha and 5-year-old son Nikoloz. Irina requested loan from local financial institutions several times for her family business start-up without any success. Her loan request was rejected every time because of her low income and her family’s poor living conditions. Irina’s husband Ucha is an artisan. He works on house construction and renovations for private orders to earn a small monthly salary, which is the only source of the income for the family. Irina requested a loan from Credo to start a family business. Irina 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, Irina will open a shoe shop. She has already rented a commercial space in a very populous area and now wants to fill it up with shoes. Irina will work in the shop as a seller herself in order to decrease expenses and increase her income. She will reinvest part of the profit in the same field and purchase more varieties of shoes to satisfy client needs more. Another part of the profit will be used to improve the family's living conditions and insure a better life for her son.



Loan details


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Loan details