A loan of $2,500 helped to start up a clothing trading business.

Tea's story

Tea, age 38, is single and lives in the small town of Gori with her family: parents, brother, sister-in-law, and niece. Tea’s brother works for the local government and her sister-in-law is a manager of an esthetics clinic. Tea works at a restaurant. All the family members get monthly salaries.

Several times, Tea has requested loans from local financial institutions in order to start up her clothing trading business, but without any success. Her loan requests were rejected because of lack of experience in the business, which is usually demanded by local financial institutions.

Her loan request has now been approved in the framework of a new joint initiative between Kiva and Credo. This start-up loan program envisages the provision of business start-up and re-start-up credit, with soft conditions to country's rural poor, who do not have access to credit products, being regarded as 'high-risk borrowers' because of low income.

With the received credit, Tea plans to purchase clothing from wholesalers in Turkey and then sell these items from her house. After investing the funds in her business, Tea hopes to generate additional revenue and invest the profits to further develop her business.

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