Expired

Total loan: $3,000
Powered by 85 lenders

Mzia

Georgia
Gamarjveba, Georgia / Clothing

A loan of $3,000 helped to buy clothing to resell.


Mzia's story

Mzia is 31 years old. She is married and lives with her three daughters and father-in-law, who has a retirement pension.

Mzia requested loan from local financial institutions several times for her business start-up, but was unable to get financing due to low income and her family’s poor living conditions.

Mzia works as a teacher at a local school and receives a small monthly salary. One of her daughters works as a saleslady at a local market. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Mzia requested loan from Credo to start-up a family business. Mzia 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-start 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 a loan, Mzia will begin trade in clothing. She plans to go to Turkey and purchase clothing at wholesale prices and then resell among her villagers at higher prices. She will also pay university fees for her daughter.

The new business initiative, financed with the Kiva loan will significantly improve the living conditions of her family.



Loan details

Loan length:

26 months
Disbursed date: June 12, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo
Expired: August 11, 2013

Lenders and lending teams




Loan details

Loan length:

26 months
Disbursed date: June 12, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo
Expired: August 11, 2013