A loan of $700 helped to begin trade with used clothing.

Manana's story

Manana is 37 years old. She lives in Sagarejo District with her husband George and 16-year-old daughter, who goes to school. Manana requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

George is an artisan of plastic doors and windows, but nowadays he is unemployed. Unfortunately the family is out of a source of income. According to Credo estimations the family belongs to the subsistence poor category.

Manana requested a loan from Credo to start up a family business. Manana 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 the 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 Manana will begin trade with used clothing. She plans to purchase a stock of used clothing at wholesale prices and then resell at higher prices. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of her family.

Loan details

Lenders and lending teams

Loan details