A loan of $1,300 helped to purchase a stock of basic groceries for her store.

Eter's story

Eter is 55 years old. She is single and lives in a small village of Ozurgeti district with her brother. Eter’s economic activity is newly-started grocery store. It has been a profitable project, but also it needs more support to further develop. Several times she has asked for loans from local financial institutions to develop her business, but without success. Her loan requests were rejected each time because of her low income and lack of experience in the business, which is usually demanded by local credit providers.

Eter’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income.

With the received credit, Eter will cover the costs of purchasing needed stock of basic groceries that customers often request. She plans to increase the turnover in her business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Eter will work hard, and she will be able to improve the living conditions for her family. With this loan, her family will generate enough income to access regular available credit products in the country’s capital market, in the event that they need them.

Loan details

Lenders and lending teams

Loan details