A loan of $3,000 helped to start up a business selling clothing and bed-clothing.

Gela's story

Gela is 30 years old. He lives in Batumi District, West Georgia, with his wife and his mother, who is provided with a retirement pension. Gela requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

Gela is involved in agricultural activities. He has a plot of agricultural land where different kinds of fruits and vegetables are grown. He sells the harvested products at local markets. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Gela 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. This 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 Gela will start up a business selling clothing and bed-clothing. He plans to purchase clothing and bed-clothing at wholesale prices and then resell the goods with his wife at a higher price. They will be able to increase the income of the family. Part of the profit will be reinvested in the business. With another part of the profit they will be able to improve their living conditions.

Loan details

Lenders and lending teams

Loan details