A loan of $500 helped to begin a clothing sales business.


Sophiko's story

Sophiko is 35 years old and a married woman, from Vani district. She lives with her husband and four children. The family is involved in agricultural activities. In particular, they have a milking cow and a calf. She milks the cow every day and produces dairy products for sale. In addition, they have a plot of agricultural land, where they have 300 nut trees. They sell the harvested nuts at a good price. As the income is only seasonal and is not enough for covering the expenses, Sophiko decided to start her own business and seek for credit among local financial institutions. Her attempts were unsuccessful because of her poor living conditions.

The startup loan program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting businesses. Sophiko's application was approved under the framework of this program, to get a loan of 800 GEL. With the received credit, she will start trading in clothing. Sophiko plans to go to Turkey and purchase clothing at wholesale prices, and then resell the goods at higher prices among her fellow villagers. This will increase the income of her family. With increased income, she will be able to improve the living conditions for her children.



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Loan details