A loan of $650 helped to purchase flour and bran for resale.

Kakhaber's story

Kakhaber is from the small town of Ozurgeti. He is 44 years old, married, and lives with his wife and two children (7 and 10 years old) who go to the local school. In fact, the family has no source of income as Kakhaber and his wife are unemployed at the moment. Kakhaber has requested a loan from local financial institutions several times for starting a trading business, but has not had success. His loan requests have been rejected because of his low income and his lack of experience in his job, which is usually important criteria for the local credit providers.

This loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provisions of 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 low income. With the received credit Kakhaber will purchase flour and bran at wholesale prices and resell them for a profit. It will be hard work for Kakhaber, but according to estimations his business will be profitable and increase the income of the family. The increased profit will be reinvested in the trading business to increase his stock and volume of sales. The family members will be able to increase their spending to satisfy their daily needs in order to improve their living conditions.

Loan details

Lenders and lending teams

Loan details