A loan helped to finish renovation work and purchase grocery stock to open a grocery shop.

Vazha's story

Vazha is 54 years old. He lives in Kutaisi district with his daughters (19 and 25 years old). Vazha requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected every time because of low income and the family’s poor living conditions.

Vazha’s wife is abroad and she is sending transfers to the family. Their additional income is Vazha’s elder daughter’s monthly salary. She is working as a nurse at the local clinic.

Vazha requested a loan from Credo to start up his 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 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 Vazha will finish renovation work and purchase grocery stock to open a grocery shop. He owns a commercial space where small jobs are left to finish renovations. After finishing renovation he will purchase grocery stock and open a grocery shop there. Vazha is very hardworking man and he will work as a seller to decrease the expenses and increase his profit. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details