A loan of $2,500 helped to open a cafe..


David's story

David is 37 years old. He lives in Telavi District with his wife and parents. David requested a loan from local financial institutions several times for a family business start-up but without any success. His loan request was always rejected because of low income and his family’s poor living conditions.

The only source of income for the family is the monthly pension of David’s parents. It brings in a total of 250 laris per month. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

David requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-ups and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit David will open a café in the center of Telavi. He has rented a commercial space and will purchase inventory for the café. After the café is opened, the family will have a source of income. David will reinvest part of the profit in the business and with the other part provide better living conditions for his family.



Loan details


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Loan details