A loan of $875 helped to purchase materials for sewing bags to sell.


Gulnazi's story

Gulnazi is a 58-year-old widow, from Rodinauli, Zestaponi district. She has only one 27-year-old son and the family earns a living through agricultural activities. In particular Gulnazi takes care of milk cows and cattle. She sells milk products locally, but the income is insignificant and they live in poverty. Gulnazi has requested a loan from local financial institutions several times for starting a trade business but could not secure funding. Her loan request was rejected each time, because the creditors did not find the existing family income to be sufficient to approve the loan. Gulnazi requested a loan from Credo to start a trading business. Her loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start up loan program provides start up credit with soft conditions for the country's rural poor, who are regarded as "high risk borrowers" because of their low income and do not have access to credit. With the received credit, Gulnazi will purchase materials for sewing bags and will then start trading. The new business initiative, financed with the Kiva start up loan, will significantly increase the family's income and the family members will be able to improve their living conditions.



Loan details


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Loan details