A loan of $2,600 helped to purchase equipment for the setup of a dentist's office.


Elene's story

Elene is a 67-year-old farmer from Akhmeta District, East Georgia. She is a widow and lives with her 28-year-old son, Zurab. He is a dentist, but is currently unemployed. Elene is a pensioner. She also takes care of a dairy cow and produces dairy products. Half of the products are consumed by her family, and a small surplus is sold in the village. Her family's total average monthly income is 200 Laris. According to Credo's estimations, the family belongs to the subsistence poor category.

Elene has requested credit for the setup of a dentist's office for her son. Her loan request was approved in the framework of new joint initiatives by Kiva and Credo. The startup loan program envisages a provision for business startup and re-startup credits with soft conditions for the country's rural poor. Regarded as “high risk borrowers” because of their low income, the country's rural poor lack access to credit products.

With the credit, Elene will purchase all the needed equipment to start a dentist's office for her son. The office will serve the population of Akhmeta District. Since Zurab is a good professional, with relevant work experience, he will have many clients. For the first year, Zurab will use the entire profit to cover the loan as well as to reinvest in the business. The living conditions of the family will significantly improve, and the family will, in case of need, have enough income to be able to access regular credit products available in the country’s capital market.



Loan details


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Loan details