A loan of $1,525 helped to purchase fruits and vegetables for resale.

Ivane's story

Ivane is 35 years old. He lives in Imereti District, West Georgia with his wife Tiniko and his mother. Ivane’s mother is unemployed; Tiniko works in a local entity and gets monthly salary of 100 Laris. Ivane leads the family’s small-scale agricultural business which is the main source of income for the family. He has a vineyard and produces wine, which is sold in the village. Also, they have several nut trees and sell nuts on the local open market. Ivane requested a loan from local financial institutions several times for a business start-up, but without any success. His loan request was rejected all the time, because of his low income and family’s poor living conditions.

The average monthly income of the family is 300 Laris. According to Credo estimations the family belongs to the subsistence poor category.

Ivane requested a loan from Credo to start-up a business trading fruits 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 the country’s rural poor, who do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income.

With the received credit Ivane will purchase seasonal fruits, mainly watermelons and melons, as well as peaches and pears. He will sell the products in Kutaisi, the largest town in West Georgia. In fall he will trade with seasonal citrus and grapes and in winter/spring with seasonal vegetables. So he will earn income each season. The new business initiative, financed with the Kiva start-up loan will significantly increase the income of the family. It will allow them to improve their living conditions.

Loan details

Lenders and lending teams

Loan details