A loan of $3,000 helped to purchase grocery stock to open a grocery shop.

Levan's story

Levan is 55 years old. He lives in the capital city of Georgia, Tbilisi, with his 41-year-old wife Irma. Levan 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 his family’s poor living conditions.

The only source of the income for the family is from the business that Levan has. In particular, he is producing mastic for floors and gets small monthly income which is rarely enough for food.

Levan 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 Levan will purchase grocery stock to open a grocery shop in his own commercial space. As the space is in a populous area, Levan hopes he will have a big number of customers and earn good income. Part of the profit will be used for reinvesting in the same business. He will be adding more grocery stock in the shop to expand it. Another part will be used for providing better living conditions for his wife.

Loan details

Lenders and lending teams

Loan details