A loan of $1,100 helped to purchase a cash desk, kitchen appliances and stocks of products for starting a cafe.

Alika's story

Alika is 29 years old, a single man who lives with his mother and brother in the Telavi district. The family does not have a source of income at the moment, as all the family members are unemployed.

Alika has recently returned from the Ukraine, where he worked as a cook. Now, he plans to start up a café. The local credit providers have rejected his loan request because of low income. His loan request was approved in the frame of a new joint initiative of Kiva and Credo.

The start-up loan program envisages the provisions of business start-ups and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, because they are regarded as “high risk borrowers” because of low income.

With the increased credit, Alika will purchase a cash desk, kitchen appliances and stocks of products that will be used for cooking meals. According to Alika’s estimations, his project will be profitable, and he will attract many customers. As a result of the new business initiative, the income of the family will increase and their living conditions will improve. In addition to the above mentioned, in case of need in the future, the family will have enough income to access regular credit products available on the country’s capital market.

Loan details

Lenders and lending teams

Loan details