A loan of $650 helped to trade in clothing and bed-clothes.

Tamazi's story

Tamazi is 34 years old. He lives with his wife, 2 daughters and mother in Partskhisi District. Tamazi requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and his family’s poor living conditions.

The only source of the income for the family is the small income earned by Tamazi’s mother, working as cook locally. This makes in total 200 Laris per month. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Tamazi requested a loan from Credo for a start-up family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Tamazi will trade in clothing and bed-clothes. He plans to purchase clothing and bed-clothes from wholesalers and resell it locally. It will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details