A loan of $3,000 helped to purchase more stock of groceries for his newly opened shop.

George's story

George is 33 years old. He lives in Ozurgeti District with retired parents. George 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 low income and the family’s poor living conditions.

George opened a grocery shop recently where he sells different kinds of groceries. The only income of the family is the monthly pension of George’s parents and a small profit from the shop. According to Credo estimations, the family belongs to the subsistence poor category.

His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision 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.

George requested a loan for purchasing more stock of groceries, which will help his newly started business to develop. He will reinvest the profit in the same business. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family and George will be able to better look after his aged parents.

Loan details

Lenders and lending teams

Loan details