A loan of $2,725 helped to start trading in brooms.

Naile's story

Naile is 42 years old. She lives in the Gardabani District with her retired mother, brother, neices, nephew and his wife. Naile requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected every time because of her low income and the family's poor living conditions.

The only source of the income for the family is from agriculture. They have rented a plot of land where broom trees are grown. With the harvested product the family makes brooms and sells them at local markets. Naile requested loan from Credo to start up a family business. Naile 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 Naile will start trading with brooms. As Gardabani district is well known for broom trees, and the brooms are sold very cheap there, Naile will purchase stocks of brooms and sell them with a price markup in Batumi district. She will earn a good profit and will be able to reinvest part of it in the same field. Another part Naile will use for improving her family's living conditions.

Loan details

Lenders and lending teams

Loan details