A loan of $2,500 helped to buy a truck and start trading vegetables.


David's story

David, 38, is from Kutaisi district. He lives with his wife and 2 children. David requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected each time because of his low income and his family’s poor living conditions.

The only source of income for the family is the small amount earned by David, who works as an artisan. It is hardly enough for food for a four member family. According to Credo's estimations, his family belongs to the subsistence poor category.

David requested a loan from Credo to start-up a family business. His loan request was approved because of a new joint initiative of Kiva and Credo. The start-up loan program envisages providing business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, David will purchase a truck. After purchasing this truck, he plans to trade vegetables. He will buy vegetables from wholesalers then transport and resell at better price. This will increase his family's income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details