A loan of $2,200 helped to purchase men's shoes at wholesale prices to resell them afterward with a price markup.


Gocha's story

Gocha is 47 years old. He lives in Tbilisi, the capital city of Georgia, with his wife, his retired mother and a daughter. Gocha 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. Gocha and his wife and daughter are all sellers at the big local market and they get small monthly salaries. Gocha 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 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, being regarded as “high risk borrowers” because of low income. With the received credit, Gocha will purchase men's shoes at wholesale prices to resell them afterward with a price markup. He already has rented a space at the same market, where he plans to start selling the shoes himself. He is experienced in this field and knows how to satisfy the clients’ demands, so Gocha hopes his business will be profitable. With the profit he plans to purchase women's shoes and develop his business. With the new business initiative, financed with the Kiva Start-up loan, Gocha and his family will be able to improve their living conditions.



Loan details


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Loan details