Total loan: $1,125


Geguti, Imereti, Georgia / Food

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A loan helped to start a trading business with fruits and vegetables.

Bichiko's story

Bichiko, 51 years old, is from the village of Geguti. He lives with his unemployed wife, son and daughter.

Bichiko requested a loan from local financial institutions several times for his trading business startup but without any success. His loan request was rejected each time because the creditors did not find the existing family income to be sufficient to approve the loan.

The only source of income for the family is a small-scale family agricultural business. They have two greenhouses, one milk cow and a plot of agricultural land. According to Credo's estimations, the family belongs to the subsistence poor category.

Bichiko requested a loan from Credo to start a trading business. His loan request was approved in the framework of a joint initiative between Kiva and Credo. The startup loan program envisages provisions for business startups and re-startup credits with soft conditions for the country's rural poor, who, regarded as "high risk borrowers" because of their low income, do not have access to credit products. With the received credit, he will start trading in seasonal fruits and vegetables. The couple will start cultivating fruits and vegetables and sell them in nearby towns with a price markup. The new business initiative, financed with the Kiva startup loan, will significantly increase the family's income.

Bichiko will be very thankful for giving him a chance to generate additional income.