A loan of $5,000 helped to purchase groceries to fill up his seasonal shop with products.

Tamaz's story

Tamaz, 48 years old, lives in Tianeti district, Sioni village with his 47-year-old wife Tinatin. Tamaz requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and his family’s poor living conditions.

Tinatin is working as a salesman in a second-hand shop on a small monthly salary. The family also has income from agriculture. In particular, they have chickens and sell eggs. Tamaz owns a shop, which is working only seasonally.

Tamaz requested loan from Credo to start-up a family business. Tamaz 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 Tamaz will purchase a stock of groceries to fill up his seasonal shop with products. Sioni village is a summer tourist area and there are a lot of people during the summer. Tamaz wants to use the opportunity and open a grocery shop, which will work successfully during this period. He will work hard to earn a good profit and improve his family's living conditions.

Loan details

Lenders and lending teams

Loan details