A loan of $1,525 helped to open a wood workshop and prepare different kinds of wooden furniture.

Levan's story

Levan is 42 years old. He is married and lives with his wife in Bolnisi District. Levan has requested a loan from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The main source of income for the family is from agricultural activities. In particular, they have a plot of agricultural land, where haricot beans and potatoes are grown. Besides that, Levan works as an artisan in the wood workshop and gets small monthly income. It is hardly enough to feed for the family. According to Credo estimations the family belongs to the 'subsistence poor' category.

Levan requested a loan from Credo to start-up a family business. His loan request was approved as one from a new joint initiative between Kiva and Credo. The start-up loan programme envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” due to their low income.

With the received credit, Levan plans to open his own workshop, where he will prepare different kinds of wooden furniture. To open a new workshop will enable him to get more orders and increase his sales of wood products. 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 Levan's family.

Loan details

Lenders and lending teams

Loan details