A loan of $375 helped to buy pottery from wholesalers, which he will resell at higher prices.

Avtandil's story

Avtandil is 24 years old and comes from a small village of Zestaponi district. He lives with his parents, aunt, and grandmother, who is provided with a retirement pension. Avtandil’s mother is a teacher at a local school and earns a monthly income. Avtandil requested a loan from local financial institutions several times, for a family business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

Aside from his grandmother's pension and his mother's teaching salary, the only source of income for the family is their agricultural activities. In particular, they have two milking cows, whose milk is used in cheese production. Besides, they have a plot of agricultural land, where 250 nut trees are grown. Avtandil sells the harvested nuts and the cheese locally, at good prices. But the family's income is hardly enough to provide food for the five-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Recently, Avtandil requested a loan from Credo to start up a family business. Credo approved his loan request, in the frame of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and restart-up credit, with soft conditions, to the country's rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Avtandil will trade in pottery. He plans to purchase pottery from the wholesalers and then resell it at higher prices. 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

Lenders and lending teams

Loan details