A loan of $1,800 helped to open a shop that specializes in headstones.

George's story

George is 32 years old. He lives in Gori district with his 29-year-old brother and parents. George requested a loan from local financial institutions several times for a 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. George trades headstones. He purchases from re-sellers in Tbilisi, the capital city of Georgia, at wholesale prices and brings it to the Gori district. Headstones are sold from his house to the villagers, and George gets a small monthly salary, which is the only source of the income of the family.

George requested a loan from Credo to start-up a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor are regarded as “high-risk borrowers” because of their low income. With his credit, George will open a shop that specializes in headstones.

As George already has a commercial space, he will economize on renting expenses. With the shop George will be able to keep more stock of headstones and serve more clients. This will significantly increase his income. Part of the profit will be used for reinvesting in order to expand his business, and another part will be used for covering the family's monthly expenses. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details