A loan of $400 helped to start trading with fruits and vegetables.


Nikoloz's story

Nikoloz is 45 years old. He lives in Akhaltsikhe district with his 41-year-old wife, 23-year-old son and retired parents. Nikoloz requested loans from local financial institutions several times for his family business start-up, but without success. His loan requests were rejected because of his low income and his family’s poor living conditions.
Nikoloz’s father is working at the local petrol station and earns a small monthly income. Nikoloz’s parents' monthly pension provides additional income.
Nikoloz requested a loan from Credo to start up a family business. Nikoloz has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program provides 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 Nikoloz will start trading fruits and vegetables. He used to work in this business before and is very experienced in this field. This will help him to start the new business and make it profitable. Nikoloz will purchase products at the wholesale price and sell them with the price markup from the ground floor in his house. He will invest part of the profit in order to expand the business and have more varieties of products to offer to clients; the other part of the profit he will use for his family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of his family.



Loan details


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Loan details