A loan of $1,900 helped to purchase the needed equipment and start producing wooden furniture.

Nanuli's story

Nanuli is 54 years old. She lives in Samtredia District with her husband, son, daughter-in-law, an infant grandchild, and her mother-in-law, who is provided with a retirement pension. Nanuli requested a loan from local financial institutions several times for the family business start-up, but without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

The only source of income for the family is agricultural activities. In particular, they have a milking cow and 2 calves, whose milk is used in cheese products. They sell approximately 15-20 kg. cheese during a month at local markets. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nanuli requested a loan from Credo to start-up the family business. Nanuli 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 the received credit, Nanuli will purchase all the needed equipment and open a wood workshop. As the needed equipment is bought, they will be able to produce wooden materials for selling. This will increase the income of their family. The new business initiative financed with the Kiva start-up loan will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details