A loan of $1,825 helped to purchase grocery stock to open a grocery shop.

Elene's story

Elene is 51 years old. She lives in Adigeni district with husband, Temur, her 29-year-old son and her daughter in-law. Elene requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The family owns a small plot of land where potatoes are grown. Harvested products are sold locally at the markets. They also have a Georgia bread bakery. Elene’s husband, Temur, is baking the bread and sells it from the bakery. Elene’s son is an artisan. He is working on private orders and brings additional income into the family.

Elene requested a loan from Credo to restart a family business. Her loan request was approved in the framework of a 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 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, Elene will purchase grocery stock to open a grocery shop. Elene used to have a shop before and now wants to restart it again. As she is already experienced in this field, Elene will work hard and make her business successful. She will reinvest the profit and purchase more stock of groceries to offer better choice of products to her clients. This will increase her income, and Elene will be able to provide a better life for her family.

Loan details

Lenders and lending teams

Loan details