A loan of $5,000 helped to purchase stocks of groceries and refrigerators to open a grocery shop.


George's story

George is 29 years old. He lives in Kutaisi district with his wife, parents and 2-year-old son. George requested loans from local financial institutions several times for a family business start-up but without any success. His loan request was rejected each time because of low income and the family’s poor living conditions. The family owns commercial space rented out as a grocery shop. George requested a loan from Credo to start up a family business. George 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 loan, George will purchase stocks of groceries and refrigerators to open a grocery shop. The previous shop renters had some problems so George ended the rental contract and decided to use his space to open his own grocery shop. He thinks the business will be profitable as the shop is already well known in the neighborhood and has permanent clients. George will reinvest the profit to expand the business and purchase more stocks of products. 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