A loan of $1,825 helped to open a car wash.


Merab's story

Merab is 53 years old. He lives in the small village of Samtredia District with his wife, son, daughter-in-law, and two grandchildren. Merab requested a loan from local financial institutions several times for his family's business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have four milking cows and two calves, whose milk is used in cheese production. Besides that, they have a vineyard and 500 nut trees. They sell the harvested products and cheese at local markets. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Merab requested a loan from Credo to start-up a family business. His loan request was approved in the framework of the new joint initiative of Kiva and Credo. This start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Merab will open a car wash. He will purchase all the needed equipment for it and will work hard to increase the income of the family. Merab hopes that the car wash will be profitable and he will do his best to satisfy his clients. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



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Loan details