A loan of $2,450 helped to open a butcher shop.

George's story

36-year-old George lives in Zestaponi district with his retired father. George requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The family owns a vineyard. From the harvested grapes George makes wine and sells it locally at the markets to earn a small monthly income. Their additional income is George’s father’s monthly pension.

George requested a loan from Credo to start-up family business. George 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 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 his credit George will open a butcher shop. He will purchase refrigerators, a packing machine and all the needed products. In his shop George will be selling fresh meat as well as frozen meat products. He has a commercial space in a populous area. It will help his shop to have good numbers of customers. George will work hard and long hours to make his business successful and profitable. Part of the profit will be used for reinvesting in the same business and another part for improving family living conditions.

Loan details

Lenders and lending teams

Loan details