A loan of $1,000 helped to purchase sole and leather materials for sewing shoes.

Kakha's story

Kakha is 44 years old. He is single, and lives with his parents in theTkibuli district. Kakha is currently unemployed. The only source of income for the family is the small monthly retired pension of Kakha’s parents.

Kakha used to be a shoemaker and sewed shoes, but his job was stopped because of financial problems.

Kakha has requested credit to restart his business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provisioning business start-ups and re-startups with credit on 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, Kakha will purchase sole and leather materials and sew shoes. He will sell his production for a good price and get a profit. The new business initiative will increase the monthly income for the family. Their living conditions will improve, and in the future, they will have enough income to access regular credit products available on country’s capital market, in the event of need.

Loan details

Lenders and lending teams

Loan details