A loan of $2,725 helped to buy maize, dried fruits and cheese at wholesale to resell.


Ramaz's story

Ramaz is 39 years old. He lives in the small village of Martvili district with his wife and parents. His parents are provided with a retirement pension. Ramaz 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 low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have two milk cows and a calf whose milk is used in cheese production. They sell cheese locally in an open market at a good price. It is hardly enough for a four-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Ramaz requested a loan from Credo to start a family business. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. This start-up loan program envisions provision of business start-up and re-startup credits with soft conditions to the rural poor, who do not have access to credit products, being regarded as "high-risk borrowers" because of low income.

With the received credit, Ramaz will begin trading in maize, dried fruits and cheese. In particular, he will buy these products from wholesalers and resell them at a better price in the capital city. Ramaz thinks this will be profitable and he will be able to 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


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Loan details