A loan of $625 helped to purchase grocery stock to open a grocery shop.

Marine's story

Forty-seven-year-old Marine lives in Rustavi district with her husband, George, and two daughters (18 and 21 years old). 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.

Marine is a seller at the local shop and earns a small monthly income. Her husband, George, is diabetic and gets a monthly pension of 70 Lari from the local government institution. The family's total income is so small that it’s rarely enough for food for them.

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 her credit, Marine will purchase grocery stock to open a grocery shop. She has already rented a small shop at the local market. Marine is very experienced in this field as she has been a seller for many years, and her experience will help the business to be successful. Part of the profit she will be reinvesting in the same field and purchasing more varieties of groceries in order to provide better service for the customers. Another part will be used to cover the family's monthly expenses. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details