A loan of $3,000 helped to renovate space and purchase grocery stock for a grocery shop.

David's story

David is 43 years old. He lives in Badiauri village, Sagarejo district, with his 43-year-old wife, retired parents, and 21-year-old son. Several times, David requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

David's family owns a vineyard. Harvested grapes are sold at the local markets. They also have piglets which will be sold as meat after they are grown. David has a mini-bus. He is trading fruits and vegetables, buying at the wholesale price and selling locally with the price marked up. David makes a small profit and brings additional income to the family.

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 provision of business start-up 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 low income.

With the received credit, David will renovate the commercial space which was rented out. He will also purchase a stock of groceries and open a grocery shop. David decided to stop the rent, make some cosmetic repairs, and open a grocery shop, himself. As locals are already used to this shop, after the family opens it again with better stock and a better environment, David hopes it will bring good profit. Part of the profit will be used to expand the stock in the shop and another part will be used to improve the family's living conditions.

Loan details

Lenders and lending teams

Loan details