A loan of $700 helped to purchase fruit and vegetables for resale.


David's story

David is thirty-four years old. He lives in Tskaltubo District with his family: his wife – Sopiko, his nine-year-old daughter and six-year-old son as well as his retired father. The children go to local school. The only source of income for the family is a small-scale agricultural business. They have a milk cow and 200 nut trees on a family-owned plot of land. Sopiko produces cheese and sells it in the village. Nuts are sold in the village as well. The total average monthly income of the family is 270 Laris, including social assistance. According to the country’s government assessment they are regarded as living under the poverty line and receive relevant social assistance.

David requested credit to start-up a business trading fruit and vegetables. 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 country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit David will start-up a trade business. He will purchase fruit and vegetables from local farmers at wholesale prices and take them in his own car to nearby towns for resale. As a result of the new business initiative the income of the family will significantly increase and the family will be able to improve their living conditions. In addition to the above-mentioned in the future the family will have enough income to access regular credit products available on the country’s capital market, in case of need.



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Loan details