A loan of $1,600 helped to purchase all the needed materials to open his own furniture workshop.


Ramaz's story

Ramaz is 34-years-old. He lives in Dagva village, Kobuleti District with his retired parents. Ramaz requested a loan from local financial institutions several times for a family business start-up, without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

Ramaz is an artisan. He works at the local furniture workshop on a small monthly salary. His father is an artisan too, who works on construction for private orders. The family's additional income is from Ramaz’s parent’s monthly pensions.

Ramaz 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. The Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Ramaz will purchase all the needed materials to open his own furniture workshop. As he is already experienced in this business and is well known among the villagers, Ramaz will have a good numbers of clients. He will not depend on a salary anymore and work hard to earn good income for the family. The increased income will help him to provide better living conditions for his aged parents.



Loan details


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Loan details