A loan of $1,300 helped to purchase books for resale.


Jansughi's story

Jansughi is 49 years old and lives with his wife and two children (15 and 18 years old) in Zestaponi district. The only source of income for the family is the small income, earned by Jansughi, who is involved in book trading. He has been running the business during five years and the project was profitable, but now it needs financial support. Several times, he has asked for loans from local financial institutions to develop his business with no success. His loan requests were rejected each time because of his low income.
Jansughi’s 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, Jansughi will cover the costs of purchasing needed stock of books that customers often request. He 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. Jansughi will work hard, and he will be able to improve the living conditions for his family. With this loan, the family will generate enough income to access regular available credit products in the country’s capital market, in the event it is needed.



Loan details


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Loan details