A loan of $5,000 helped to set up a meat store.

Suren's story

Suren is 30 years old. He lives in Akhalkalaki, with his wife and two children (two and eight years old). Suren’s father has a grocery store in the district and Suren helps him run the business. He has an income from his father’s business. So, Suren decided to start-up his own business. He has requested a loan from local financial institutions several times to start the business, but he hasn't had any success. His loan request was rejected all the time because of his low income and his lack of experience, which local credit providers usually demand. Suren plans to set up meat store locally.

His loan request was approved under the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor are regarded as “high risk borrowers” because of their low income.

With the received credit, Suren will purchase refrigerators, a mincing-machine and a truck for meat transportation. He will also use the loan to purchase a stock of meat. He has already renovated the store in the town centre. The place is profitable as it is populous, and it does not have a meat store nearby. This will increase sales volume. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of Suren's family.

Loan details

Lenders and lending teams

Loan details