A loan of $1,200 helped to purchase stock of groceries and open a grocery store.


Parid's story

Parid, 21, lives in Marneuli District with his sister, parents, and grandmother, who is provided with a retirement pension. Parid requested loans from local financial institutions several times for a family business start-up but without any success. His loan request was always rejected because of his low income and his family’s poor living conditions. The only source of income for the family is the small monthly income of his mother, working at the local municipality, and his grandmother’s monthly pension. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Parid requested a loan from Credo to start a family business. His loan request was approved in the framework of the new joint initiative between Kiva and Credo. This start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to the country's rural poor. These rural poor do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income. With the credit received, Parid will purchase a stock of groceries to open a grocery store. He has a commercial space where he plans to open the store. With this new business initiative, financed with the Kiva Start-up loan, Parid will be able to increase the income of his family and it will significantly improve the living conditions of his family.



Loan details


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Loan details