A loan of $4,850 helped to purchase a mini-bus.

Khvicha's story

Khvicha is 42 years old. He lives in Shrosha village, Akhmeta district, with his 35-year-old wife, Nino, and three children (3, 9 and 10 years old). Khvicha 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 main source of income for the family is from agricultural activities. They have two milk cows and a pig. The cows are milked every day to make dairy products, which is sold at the local markets. From the pig they have piglets and also sell them at the market. Additional family income is Nino’s monthly salary. She is a teacher at the local school.

Khvicha 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 his credit, Khvicha will purchase a mini-bus. He wants to start trading in fruits and vegetables. He will purchase products at the wholesale price from his villagers and sell them in nearby villages with a price markup. This will bring him a good profit and he will be able to look after for his big family better and improve their living conditions.

Loan details

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Loan details