A loan of $2,500 helped to purchase a stock of groceries to start a grocery store.

Rudik's story

Rudik is 26 years old. He is married and lives with his wife and mother in the small village of Marneuli District. Rudik requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of his low income and the family’s poor living conditions.

The family is involved in a trading business. In particular, they purchase fruits and vegetables at wholesale prices and then resell at a higher price locally. The income from the trading business is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Rudik 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-start-up 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 their low income.

With the received credit, Rudik will purchase a stock of grocery products to sell. He has a commercial space where he plans start up a new grocery store. 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

Lenders and lending teams

Loan details