A loan of $5,000 helped to open a plastic workshop.


Murman's story

Murman is 29 years old. He lives in Khelvachauri District with his wife and parents. Murman 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 the family’s poor living conditions. The only source of income for the family is from their agricultural activities. In particular, they have 0.4 hectare of agricultural land, where different kinds of vegetables are grown. They sell the harvested products locally. It is hardly enough food for the family. According to Credo estimations the family belongs to the subsistence poor category. Murman requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country rural poor, who do not have access to credit products, because they are regarded as “high risk borrowers” because of their low income. With the received credit, Murman will open a workshop, where he will make different kinds of plastic materials. This will increase the income of his 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