A loan of $925 helped to purchase a stock of groceries for a new grocery shop.


Marine's story

Marine is 58 years old. She lives in the small village of Zestaponi District with husband. Marine requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is from their agricultural activities. In particular, they have a vineyard, with 400 samples of wine trees. They produce wine and sell it at local markets at a good price. Besides that, they have a plot of land where nut trees are grown. They sell nuts locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Marine requested a loan from Credo to start up a family business. Marine 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 this credit, Marine will open a grocery shop. As she has a space already near her house, she will purchase a stock of groceries. After opening a shop, she will work hard to increase the income of her family. Part of the income will be reinvested in the business. 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