Funded

Total loan: $1,300
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Nodar

Georgia
Rustavi, Georgia / Grocery Store

A loan of $1,300 helped to purchase groceries and open a grocery store.


Nodar's story

Nodar is 62 years old. He lives in Rustavi District with his wife, son, daughter-in-law and an infant granddaughter. Nodar requested a loan 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 income for the family is the income of his wife and daughter-in-law. They both are working as salesladies. In addition, his son works as an artisan and gets a small monthly income. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nodar requested a loan from Credo to start up a family business. His loan request was approved in the frame of a 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 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 Nodar will purchase groceries and open a grocery store, as he has a commercial space already. After the store is opened, he will be able to increase the income of the family, which will be more stable and they will have a chance to improve their living conditions. The new business initiative, financed with the Kiva start-up loan will significantly improve the environment of the family.



Loan details

Loan length:

21 months
Disbursed date: March 28, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

21 months
Disbursed date: March 28, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo