Total loan: $4,000


Ninotsminda, Samtskhe-Javakheti, Georgia / Manufacturing

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A loan helped to purchase materials for producing graves and making funeral flowers.

Kazar's story

Kazar is 29 years old. He lives in Ninotsminda District with his 26-year-old wife, two children (twins), parents and two sisters. Kazar 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 his family’s poor living conditions. Kazar is working in a factory where graves and funeral flowers are produced. That’s the only income for the family and it’s not enough to satisfy their daily needs. Kazar 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-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high-risk borrowers” because of low income. With the received credit, Kazar will purchase materials for producing graves and making funeral flowers. As he is already working in this business, he is very experienced and decided to start his own one. He is already well known among the villagers and will have his own clients. This will help him to earn additional income and make a good profit. Part of the profit he will use for reinvesting in the same business and another part for providing better living conditions for his family.