A loan of $1,800 helped to start a retail business selling cement.


David's story

David is 50 years old and lives in Khashuri district with his retired mother. David requested loans from local financial institutions several times for a family business start-up but without any success. His loan request was rejected each time because of low income and the family’s poor living conditions. David is an artisan who makes steel doors for private orders in his own workshop. Additional income comes from David’s mother’s monthly pension. David requested a loan from Credo to start up a family business. David 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, David will start trading with cement. He will buy cement bags at wholesale prices from the cement factory in Kaspi district and sell the bags with the prices marked up at the local market in Khashuri. This new business will give David an opportunity to earn additional income for the family and improve their living conditions.



Loan details


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Loan details