A loan of $900 helped to purchase a coffee grinder machine.

Murtaz's story

Murtaz is 37 years old. He is married and lives with his wife and mother in Senaki District. His mother is provided with a retirement pension. Murtaz requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Murtaz has a grocery store near his house. He purchases the stock of groceries at wholesale prices and then resells them in his grocery store with a price markup. He has a rich experience in his business and works hard to improve living conditions for his family. But the income is too small and the family remain in a poor category.

His loan request was approved in the framework of new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Murtaz will purchase a coffee grinder machine. He will place this coffee grinder machine in his grocery store. With a small part of the loan Murtaz will buy a variety of coffee beans to grind for his customers. This will 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

Lenders and lending teams

Loan details