Funded

Total loan: $1,000
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Tsira

Georgia
Rustavi, Georgia / Perfumes

A loan of $1,000 helped to start selling perfume.


Tsira's story

Fifty-one-year-old Tsira lives in the Rustavi district with her 56-year-old husband. Tsira has requested loans from local financial institutions several times for her family business start-up, but she hasn't had any success. Her loan request was rejected every time because of her low income and her family’s poor living conditions. Tsira sells jewelry. She buys the products at the wholesale prices and re-sells them among her neighbors with the price marked up to earn a small monthly income. Her husband works for a small salary at the local factory. Tsira requested loan from Credo to start her family business. Tsira 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, Tsira will start re-selling perfume. She will buy from the big market at the wholesale price and re-sell it with the jewelry among the neighbors with the price marked up. Tsira is already well known among the locals, and people like her products. She will have good success starting the perfume business too and will earn a good profit. She will re-invest part of the profit in her business to purchase more products and offer better choices to her clients. Tsira will use part of the profit for her family to improve their living conditions.



Loan details

Loan length:

15 months
Disbursed date: May 31, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

15 months
Disbursed date: May 31, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo