Single mother raises daughter on her own with help of small loans
Marina Gabrichidze, 42, has worked since age 15; she can’t remember a time when she wasn’t knitting or embroidering. Her grandmother taught her how to knit and embroidery as a hobby- never thinking that her life and that of her daughter would one day be sustained by them.
Marina’s husband left her when she was 27 years old and when their daughter Tamuna was just three. Social and economic pressures force many Georgian women in the same situation to place their infants in an institution where they will receive basic levels of care, but Marina was determined to care and provide for her daughter on her own.
I needed money but none of the banks would give me a loan, as I don’t have fixed income Marina decided to turn knitting into a business. She began receiving orders and her skills soon attracted several customers. But while the income generated helped to support herself and her daughter, she wasn’t able to enlarge her business because she lacked the money for materials and a sewing machine.
“I needed money but none of the banks would give me a loan, as I don’t have fixed income”, shares Marina.
It was then that Marina came across Credo, World Vision’s microfinance institution in Georgia.
“Credo was my last chance and I was not very confident when I visited the office, but I can say that my success is due to their assistance - with my first loan I was able to buy materials and sew cloth for shops and after that I acquired regular customers”, Marina says.
Her first loan was for US$800 in 2004. Since then she has expanded her business, and gained additional regular customers. A second loan enabled her to purchase a sewing machine and fulfil even more orders.
Over the past five years her hard work, together with good business management, have seen her repay a total of US$5,000 in loans.
“I would say that my mother works 24 hours a day; sometimes she does not sleep at all in order to fulfil orders in time”, says her daughter Tamuna, who is now 15. Marina even contracts others to help her when she receives an extra large order.
I would say that my mother works 24 hours a day; sometimes she does not sleep at all in order to fulfil orders in time With the income she receives for her hard work, Marina pays rent for her house, provides her daughter with a good education and even supports her parents who still live in a village outside of Tbilisi.
“I was always trying my best for my daughter. I didn’t want her to feel unsafe without her father. I was trying to give her everything,” Marina adds.
Marina’s private upheaval made her even stronger and gave her strength to persevere when the odds were stacked against her.
Several years ago Marina’s skills in embroidery were discovered by Irakli Nasidze; a famous Georgian designer who works in Paris. While the income she receives from his orders isn’t regular, she is proud that she is recognised as being a professional in this field.
“Without the initial assistance from Credo I would have given up and had to find something else in order to support my daughter. I still remember my first visit to these people - that they believed in me and gave me the chance to become successful”, says Marina.
I was always trying my best for my daughter. I didn’t want her to feel unsafe without her father “These people (clients) become very close to us; in many cases we become friends and they even tell us about their personal problems. The assistance from us inspires them to prove that they deserve it”, says Lika, Marina’s Credit Officer.
“Each year the number of our customers increases. We give people a chance to begin their businesses - people who are declined for help by other banks”, says Credo marketing and PR manager Nikoloz Kutateladze. “We support micro and small businesses with preference for rural activities and those businesses that create employment opportunities for the poor”, he adds.
A limited number of banks support first-time entrepreneurs in Georgia. Following the Georgia-Russia conflict in August 2008, most Georgian banks suspended credit and increased interest fees.
Today Credo is one of the leading microfinance institutions in Georgia with a vision to reduce economic causes of poverty. Currently Credo has 12,000 clients with more than 22 million GEL of loans (just over US$ 13,000,000).
Since 2005 Credo loans have given more then 1,000 people employment in Georgia. Some 12,000 people have sustained jobs and around 25,000 children have benefitted from income generated by loans. Credo offers Agriculture, Tourism Business, Urban business and Household loans.
Spanning a period of ten years from 1997 to 2007, Credo has consistently sought to provide sustainable financial services to the entrepreneurial poor and Georgian micro and small businesses, with the preferences for rural activities.
Credo has been licensed by the National Bank of Georgia and operates 13 offices across the country.
-Ends-
Marina’s husband left her when she was 27 years old and when their daughter Tamuna was just three. Social and economic pressures force many Georgian women in the same situation to place their infants in an institution where they will receive basic levels of care, but Marina was determined to care and provide for her daughter on her own.
I needed money but none of the banks would give me a loan, as I don’t have fixed income Marina decided to turn knitting into a business. She began receiving orders and her skills soon attracted several customers. But while the income generated helped to support herself and her daughter, she wasn’t able to enlarge her business because she lacked the money for materials and a sewing machine.
“I needed money but none of the banks would give me a loan, as I don’t have fixed income”, shares Marina.
It was then that Marina came across Credo, World Vision’s microfinance institution in Georgia.
“Credo was my last chance and I was not very confident when I visited the office, but I can say that my success is due to their assistance - with my first loan I was able to buy materials and sew cloth for shops and after that I acquired regular customers”, Marina says.
Her first loan was for US$800 in 2004. Since then she has expanded her business, and gained additional regular customers. A second loan enabled her to purchase a sewing machine and fulfil even more orders.
Over the past five years her hard work, together with good business management, have seen her repay a total of US$5,000 in loans.
“I would say that my mother works 24 hours a day; sometimes she does not sleep at all in order to fulfil orders in time”, says her daughter Tamuna, who is now 15. Marina even contracts others to help her when she receives an extra large order.
I would say that my mother works 24 hours a day; sometimes she does not sleep at all in order to fulfil orders in time With the income she receives for her hard work, Marina pays rent for her house, provides her daughter with a good education and even supports her parents who still live in a village outside of Tbilisi.
“I was always trying my best for my daughter. I didn’t want her to feel unsafe without her father. I was trying to give her everything,” Marina adds.
Marina’s private upheaval made her even stronger and gave her strength to persevere when the odds were stacked against her.
Several years ago Marina’s skills in embroidery were discovered by Irakli Nasidze; a famous Georgian designer who works in Paris. While the income she receives from his orders isn’t regular, she is proud that she is recognised as being a professional in this field.
“Without the initial assistance from Credo I would have given up and had to find something else in order to support my daughter. I still remember my first visit to these people - that they believed in me and gave me the chance to become successful”, says Marina.
I was always trying my best for my daughter. I didn’t want her to feel unsafe without her father “These people (clients) become very close to us; in many cases we become friends and they even tell us about their personal problems. The assistance from us inspires them to prove that they deserve it”, says Lika, Marina’s Credit Officer.
“Each year the number of our customers increases. We give people a chance to begin their businesses - people who are declined for help by other banks”, says Credo marketing and PR manager Nikoloz Kutateladze. “We support micro and small businesses with preference for rural activities and those businesses that create employment opportunities for the poor”, he adds.
A limited number of banks support first-time entrepreneurs in Georgia. Following the Georgia-Russia conflict in August 2008, most Georgian banks suspended credit and increased interest fees.
Today Credo is one of the leading microfinance institutions in Georgia with a vision to reduce economic causes of poverty. Currently Credo has 12,000 clients with more than 22 million GEL of loans (just over US$ 13,000,000).
Since 2005 Credo loans have given more then 1,000 people employment in Georgia. Some 12,000 people have sustained jobs and around 25,000 children have benefitted from income generated by loans. Credo offers Agriculture, Tourism Business, Urban business and Household loans.
Spanning a period of ten years from 1997 to 2007, Credo has consistently sought to provide sustainable financial services to the entrepreneurial poor and Georgian micro and small businesses, with the preferences for rural activities.
Credo has been licensed by the National Bank of Georgia and operates 13 offices across the country.
-Ends-
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