A loan of $3,000 helped to purchase all the needed materials to produce lemonade.

Mikheil's story

Mikheil is 26 years old. He lives in the Kutaisi district with his father, Irodi. Mikheil 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 the family’s poor living conditions. The family owns a commercial space which they are renting out. This is the only income for the family and it’s rarely enough for food for them.

Mikheil 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 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 this credit, Mikheil will purchase all the needed materials to produce lemonade. He has already bought a lemonade workshop and mounting for starting the business. Now he needs to buy bottles, stickers and all the other materials to start producing lemonade. Mikheil and his father will work very hard to make their business profitable. Mikheil will use part of the profit to reinvest in the same business and another part for improving the family's living conditions.

Loan details

Lenders and lending teams

Loan details