A loan of $1,600 helped to purchase fruits and vegetables for resale.

Merab's story

Merab is 47 years old. He lives in the capital city of Tbilisi, with his wife and 18-year-old daughter. Several times, he has asked for loans from local financial institutions to start up a new business, without success. His loan requests were rejected each time because of the law income and lack of experience in his job, which is usually demanded by local credit providers.

The only source of the income for the family is the newly started business being run by Merab at the local open market. He has a store where different kinds of fruits and vegetables are sold.

Merab has requested a loan from Credo to develop his business trading in fruit and vegetables at the local open market. His loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit, with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income.

With the received credit, Merab will purchase fruit and vegetables at wholesale prices and sell them in his open market store. Merab plans to increase the turnover in his trade business gradually.

The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Merab will work hard, and he will be able to improve the living conditions for his family. With this loan, family will generate enough income to access regular available credit products in the country’s capital market, in the event they need it.

Loan details

Lenders and lending teams

Loan details