A loan of $3,000 helped to start trading in household goods.


Irakli's story

26-year-old Irakli lives in Rustavi district with his 22-year-old wife, brother, and an infant son (1 year old). Irakli 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 family is out of a source of income at this moment.
Irakli requested a loan from Credo for a start-up family business. Irakli 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 Irakli will start trading in household goods. He will rent a counter at the local market and purchase stock of the products. Irakli’s mother used to work in this business before she passed away one month ago, so Irakli is already advised in this field. This will help him to make his business successful and profitable. He will earn an income for the family and they will be able to cover monthly expenses.



Loan details


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Loan details