A loan of $3,000 helped to purchase stocks of plumbing equipment and open a plumbing shop.

Mirian's story

Mirian is 25 years old. He lives in Terjola district with his wife Teona, his parents and retired grandfather. Mirian had requested for a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected every time because of low income and the family’s poor living conditions.

The main source of income for the family is from their agricultural business. In particular, they have two milk cows and a vineyard. The cows are milked to make cheese. From the harvested grapes they make wine and vodka. All the products are sold locally at the markets. Mirian's grandfather's monthly pension is additional income for the family.

Mirian requested a loan from Credo to start a family business. Mirian 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 Mirian will purchase stocks of plumbing equipment and open a plumbing shop. He has already rented a space in the populous area which will promote his business development. In order to decrease the expenses and increase the profit Mirian will work in the shop himself as a seller. His efforts will make the business successful and profitable and Mirian will be able to improve the family's living conditions.

Loan details

Lenders and lending teams

Loan details