100%

funded

Total loan: $925

Dursun

Flag of Georgia
Bobokvati, Adjara, Georgia / Food

Dursun's loan finished fundraising,
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A loan helped to start up a grocery store in his village.


Dursun's story

Dursun is a 68-year-old pensioner from the village of Bobokvati. He is married and lives with his wife, grown son, daughter-in-law and three grandchildren. The family runs a small-scale agricultural business that has agricultural land where citrus, nuts, kiwis and persimmons are grown. They sell the harvested products at the local market. Dursun has made multiple loan requests, without success, from local financial institutions in order to start up a trading business. His loan requests were rejected each time due to low income. Dursun’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions. Borrowers are the vulnerable poor who do not have access to credit products since they are regarded as ‘high-risk borrowers’ because of their low income. With the received credit, Dursun will purchase basic groceries and set up a store. He plans to increase the turnover in his trading business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Dursun will work hard and he will be able to improve the living conditions for his family. With this loan, his family will generate enough income to access regular credit products in the country’s capital market, in the event that they need it.