A loan of $300 helped to begin a trade in fruits and vegetables.


Vazha's story

Vazha is 62 years old. He lives in Tbilisi, the capital city of Georgia, with his wife and son. Vazha 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 family’s poor living conditions.

Vazha is a hired worker at a local bread factory, making a total of 300 Laris (GEL) per month, which is the only source of income for the family. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Vazha requested a loan from Credo to start up a family business. Vazha 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 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 people are regarded as “high-risk borrowers” because of their low income.

With his credit, Vazha will begin a trade in fruits and vegetables. He plans to purchase fruits and vegetables at wholesale prices and then resell them from the counter near his house. 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 the family.



Loan details


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Loan details