A loan of $2,000 helped to purchase stock of groceries for his grocery shop.

Irakli's story

Irakli is 30 years old. He lives in the capital city of Georgia, Tbilisi, with his wife and child. 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.

Irakli has a small commercial space in a very populous area, where he has opened a grocery shop. His wife is working in a beauty salon for a small daily income.

Irakli requested a loan from Credo to start up a family business. He 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-start-up 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 purchase stock of groceries for his grocery shop. He wants to expand the varieties of the products in his shop in order to offer better choices to his clients and satisfy their needs. This will attract more people and increase Irakli’s income. He will reinvest part of the profit in the same field and use another part for the family’s well-being.

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