A loan of $4,500 helped to purchase building materials for starting a grocery shop.

Ivane's story

Ivane is 50 years old. He is married and lives with his wife in Sagarejo District, East Georgia. Ivane 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 family’s poor living conditions.

Ivane serves local people as a taxi driver with his car and earns income. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Ivane 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. The rural poor do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Ivane will start a grocery shop. He has a place near his house where he will build a shop. Ivane plans to purchase all the building materials and will build himself. After opening the grocery store, his wife will work as a saleslady and the family will increase their income.

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