A loan of $2,800 helped to start producing canned meat.


Artur's story

Artur is 26 years old. He lives in Akhalkalaki district with his 21-year-old wife and an infant child. Artur 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. Artur is an artisan who works on private orders in the factories. His wife bakes cakes for birthdays. They both earn a small monthly income, which is rarely enough for food for the family. Artur requested a loan from Credo to start up a family business. Artur 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, Artur wants to start canned meat production. His father-in-law gave him canned meat-producing equipment. They have a small commercial space, where Artur plans to start a business. He will purchase raw materials and jars; also print the labels and renovate the space to prepare it as a small factory. Artur is very hardworking man, and he wants to use the chance his father-in-law gave to him and start a new family business to increase his monthly income and provide a better future for his child.



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Loan details