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Gulinaz is a 53-year-old woman. She lives alone in a small village of the Kareli district. Gulinaz is unemployed now. In the region there is a high unemployment rate, but self-employment helps inhabitants to make a living. So, she decided to start a clothing trading business with the loan but the local credit providers usually demand experience and some stable income from the borrowers. Her credit requests were rejected several times, as she was unable to satisfy their requirements. Gulinaz received the credit in the framework of the joint initiative of Kiva and the Credo - Startup Program that gives rural poor people the chance to start or re-start their businesses. With the loan of $ 1,200, she will purchase clothing at a wholesale price and sell them in her community door-to-door. Her regular customers will be her neighbors. She plans to sell a wide assortment and well-priced clothing for men, women and children. It is obvious that the job is hard for Gulinaz, but she is ready to deal with the difficulties and develop her trading business gradually.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.


About Georgia

  • $6,100
    Average annual income
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,323,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $1,200 helped Gulinaz to begin trade with clothing.
Repayment Term
15 months (Additional Information)
Repayment Schedule
Aug 31, 2013
Oct 6, 2013
Currency Exchange Loss:
Nov 5, 2013