A loan of $2,800 helped to produce sunflowers.


Teimuraz's story

Teimuraz is 34 years old. He lives in Kutaisi District with his wife and parents. Teimuraz 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 the monthly salary earned by Teimuraz’s father, who is working as an builder at a private building company. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Teimuraz requested a loan from Credo to start up a family business. Teimuraz 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, Teimuraz will start sunflower production. He will purchase all the needed equipment and raw materials and will start packing bags. He will sell the produced sunflowers at local markets at a good price. This will increase the income of his family. 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