Total loan: $1,000


Batumi, Adjara, Georgia / Food

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A loan helped to purchase packages for packing corn flour.

Emzar's story

Emzar is 27 years old. He lives in Batumi, West Georgia, with his 19-year-old wife, parents-in-law and sister-in-law, who is going to school. Emzar requested a loan from local financial institutions several times for a 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 only source of income for the family is the small monthly salaries of Emzar and his mother-in-law. He is working at the local market as a miller, and his mother-in-law is working in a retirement house as a cook. Their total income is not enough to feed the five members of the family. Emzar requested a loan from Credo to start up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to the country’s rural poor. The rural poor do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Emzar will purchase packages for packing corn flour. He already has a mill and plans to work from there. As Emzar is already experienced in this field, he hopes his new business will be successful and he will be able to sell a lot of packed corn flour to make a good profit. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.