A loan of $500 helped to purchase raw materials for his cement workshop.


Ivane's story

Ivane is 59 years old. He lives in the Akhaltsikhe district with his 53-year-old wife, Mzia, and two children.

Ivane 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 only source of income for the family is Mzia’s monthly salary. She is working at the local restaurant as a waitress. The small salary that she earns is not even enough for food for the family.

Ivane 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-start-up 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, Ivane will purchase raw materials for his cement workshop. He will start producing cement blocks and sell them to the resellers at a good price to earn additional income for the family.

Ivane will have a new family business and will work hard to make it profitable. He will be reinvesting part of the profit in the same field, and another part will be used to improve the family’s living conditions.



Loan details


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Loan details