A loan of $800 helped to buy all materials needed to renovate a flat.


David's story

David is 28 years old. He lives in Batumi, West Georgia with his retired father, Guri, who is 75 years old. Several times, David requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

The only sources of income for the family are Guri's monthly pension and a small salary of David's, who is working as an artisan in a private building company. According to Credo estimations, the family belongs to the 'subsistence poor' category.

David requested loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages 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.

With the received loan, David will buy all materials needed to renovate a flat. After the flat is renovated, he plans to rent it out. Because of tourism development in Batumi, David believes that renovating this flat will help him to earn more income. This new business initiative, financed with a start-up loan from Kiva, will significantly improve the living conditions of the family and David will be able to take better care of his aged father.



Loan details


Lenders and lending teams



Loan details