A loan of $1,200 helped to purchase plumbing equipment.

Merab's story

Merab is 53 years old and from Kaspi district. He lives with his wife and son. Merab has requested a loan from local financial institutions several times for starting up a family business, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

The only source of the income for the family is monthly income earned by his son, working as distributor. He makes 300 Laris total per month. It is hardly enough for food for a three-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Merab requested loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start credits with soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received loan, Merab will purchase plumbing equipment. After purchasing the equipment, he will be able to work as a plumber, will get orders and thus increase monthly 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