A loan of $1,525 helped to open a grocery shop.


Vazha's story

Vazha is 33 years old. He lives in Samtredia District with his wife, an infant son, and pensioner parents. Vazha requested loans from local financial institutions several times for family business start-up, but without any success. His loan requests were rejected all the time, because of low income and his family’s poor living conditions.

The family is actively involved in agricultural activities. In particular, they have two milking cows and a pig. They also have a 0.4 hectare plot of agricultural land, where maize is grown. Vazha’s wife milks the cows and produces cheese. They sell approximately 20 kg. of cheese during a month. They also sell piglets and harvested maize. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Vazha requested loan from Credo to start up a family business. Vazha 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 Vazha will open a grocery shop. He will purchase a stock of groceries and pay the rent. After the shop is opened the family will have an additional source of income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details