A loan of $5,000 helped to open an auto parts shop to help support his large family.


Valeri's story

Valeri is 27 years old from the small village in the Gurjaani district. He has a large family: parents, wife, an infant son, brother, daughter-in-law and nephew. Valeri requested loans 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.

The only source of the income for the family is from the agricultural activities. In particular, they have a vineyard and a plot of agricultural land, where 70 peach trees are grown. In addition, Valeri has a tractor, which is used for tilling services. Valeri serves local people for tilling services and earns money. It is hardly enough to provide food for such a large family. According to Credo estimations the family belongs to the subsistence poor category.

Valeri requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of 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, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Valeri will open an auto parts shop. He plans to purchase a stock of automotive parts for selling in his shop. 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


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Loan details