A loan of $625 helped to purchase clothing for trade.

David's story

David is from the village of Tskhratskaro, West Georgia. He is 45 years old, married and lives with his family: his wife Ekaterina, his 83 year old father and two children (9 and 7 years old). The children go to school. David has requested loan from local financial institutions several times for his trading business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

The only source of income for the family is a small dairy farm with two milk cows. David and Ekaterina produce cheese and sell it in the village. The total average monthly income of the family doesn’t exceed 300 Laris, including the monthly pension of David’s father. It is hardly enough to pay for food for a five member family. According to Credo estimations, David’s family belongs to the subsistence poor category.

David requested a loan from Credo to start-up trade with clothing. His loan request was approved in the frames of a 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 the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

David will purchase clothes in Tbilisi (the capital city of the country, about 300 km from his village) for wholesale prices and resell them in his village and nearby villages. It will be hard work for David, but according to estimations, his business will be profitable and increase the income of the family by 50 – 60%. The new business initiative, financed with the Kiva Start-up loan, will significantly increase the income of the family. The family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

Loan details

Lenders and lending teams

Loan details