A loan of $2,500 helped to purchase a car and a stock of fruits and vegetables to start trading.


Hamlet's story

Hamlet is 47 years old. He lives in Orkhevi village near Tbilisi, the capital city of Georgia with his wife Tamar and two daughters who are going to school. Hamlet 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. Hamlet is working at the local market, selling fruits and vegetables. His wife is working at the supermarket and they both get small monthly salaries. Hamlet requested a loan from Credo to start-up a family business. His loan request was approved in the frames of the new joint initiative of Kiva and Credo. 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 Hamlet will purchase a car and a stock of fruits and vegetables to start trading himself. Hamlet will go to the local market in the capital city, buy products at the wholesale price and sell it to the resellers with the price mark-up in his district. He is already very experienced in this field so he hopes the new business will be profitable. Part of the profit Hamlet will be reinvesting in the same business so he can develop and earn more income for the family. With the increased income Hamlet will be able to provide better living conditions for his family and also provide for his daughters' future education.



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Loan details