A loan of $675 helped to start a grocery store.


Grigol's story

Grigol is 56 years old. He lives in the small village of Tetritskaro District with his wife and two children. Grigol requested a loan from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected every time, because of his low income and family’s poor living conditions. The only source of income for Grigol's family is the monthly salary of Grigol’s wife, who works as a teacher at a local school. She earns a total of 170 Laris (GEL) per month. It is hardly enough to pay for food for the family. According to Credo estimates the family belongs to the 'subsistence poor' category. Grigol 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 programme envisages the provision of business start-up and re-start-up credits with soft conditions for the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit Grigol will start a grocery store. He will purchase a stock of groceries to open the grocery store. He already has a space, where the grocery store will be situated. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of Grigol's family.



Loan details


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Loan details