A loan of $5,000 helped to purchase grocery stock and open a grocery shop.


Robert's story

Robert is 68 years old, married, and has one adult child. He is retired and lives in the capital city of Georgia, Tbilisi. Robert requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected because of low income and the family’s poor living conditions.

The family's main source of income is Robert’s and his wife Salome’s monthly pensions. In addition, they have a commercial space, which is rented out as a grocery shop and they receive a small monthly payment. Total income of the family is so small that it is not enough to cover their monthly expenses, including food.

Robert's loan request was approved as part of a new joint initiative of Kiva and Credo. The start-up loan program envisions 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, being regarded as “high risk borrowers.” With the loan, Robert will purchase grocery stocks. He wants to stop renting his commercial space and use it to open a grocery shop himself. This business will be profitable as the shop is already well known by locals. He plans on reinvesting the profit and purchasing more varieties of products to attract more customers, which will significantly increase the income of the family and improve their living conditions.



Loan details


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Loan details