A loan of $3,000 helped to purchase a car for her husband to work as a taxi driver.


Shepik's story

Shepik, 54, lives in the small village of Khelvachauri district with husband, Guram, two children, and two grandchildren. Shepik requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected each time because of low income and the family’s poor living conditions. The only source of income for the family is from trading clothing. Shepik purchases clothing from wholesalers and then resells them at a higher price. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Shepik has requested a loan from Credo to start a family business. Her loan request was approved in the framework of a new joint initiative between 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. This population do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Shepik will purchase a car. After purchasing the car, her husband Guram will be able to serve local people as a taxi driver and thus increase the family's income. 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