Total loan: $600
Ochkhamuri, Adjara, Georgia / Food
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A loan helped To purchase stock of groceries for his shop.
Sixty-year-old Guram lives in Kobuleti district, Ochkhamuri village with his 52-year-old wife, Nino. Guram 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. Guram owns a grocery shop. He has a small number of products and earns a small daily income. His wife, Nino, is a teacher at the local school. Total family total income is rarely enough for food expenses. Guram requested a loan from Credo to start up a family business. He 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, Guram will purchase stock for his grocery shop. He wants to have more varieties of products in order to better satisfy his clients' needs and earn a higher income for his family. He will reinvest part of the profit to expand his business. Guram will use another part of his profit to cover food expenses and purchase all the needed household goods. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.