A loan of $2,125 helped to purchase grocery stock to open a grocery shop.

Aleksi's story

Aleksi is 38 years old. He lives in Balichi village, Bolnisi district, with his 29-year-old wife Nino and retired father. Aleksi 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.

The main source of the income for the family is from agricultural activities. In particular, they have a plot of land where potatoes, maize, and haricot are grown. Also, the family owns a milk cow, which is milked every day to make dairy products. All the products are sold together at the local markets. Family additional income is Aleksi’s father's monthly pension.

Aleksi 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 people are regarded as “high risk borrowers” because of their low income. With his credit, Aleksi will purchase grocery stock to open a grocery shop. His family will be selling the products from the shop themselves so they don’t have to have the extra expense of paying a salary to the seller. This will significantly increase their profit. He will be reinvesting part of the profit into purchasing more grocery stock in order to have better choices to offer to the clients. The other part, Aleksi will use for covering family monthly expenses and providing better living conditions for them.

Loan details

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Loan details