A loan of $3,500 helped to purchase grocery stocks and open a grocery shop.


Teimuraz's story

Teimuraz, age 27, lives in the district of Sagarejo. He intends to open a family grocery store business. He has requested loans from local financial institutions several times for family business start-up capital, but without any success. His loan request was rejected each time because of his low income and the family’s poor living conditions. Currently, Teimuraz lives with his parents. His mother is a teacher in the local kindergarten, earning a small monthly salary, and his father is a retired policeman who is able to provide the family with additional income from his pension.

Teimuraz has requested a loan from Credo to start up his grocery business. He has been approved for a loan within the framework of a 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 because they are regarded as “high risk borrowers” due to their low income.

With his credit, Teimuraz will purchase grocery stocks and open his store. He is a very hard-working man and intends to fulfill all the business needs for the shop himself. This will decrease his expenses and increase his profit.

Part of the profit from Teimuraz's new venture will be reinvested back into the business, in order to expand the variety of the shop's product inventory. The rest will be used for improving the family's living conditions.



Loan details


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Loan details