A loan of $3,700 helped to open a grocery shop.

Demur's story

Demur is 54 years old. He lives in the small village of Martvili District with his wife, son, daughter-in-law and three grandchildren. Demur has requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected each time, because of his low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural activities. In particular, they have three pigs, six milking cows and seven calves. They produce dairy products to sell. In addition, they have bee-hives with bee-colonies and a plot of land, where nut trees are grown. They sell the harvested nuts and honey at local markets for a good price. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs in the subsistence poor category.

Demur has requested a loan from Credo to start-up a family business. Demur 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 the 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 loan, Demur will open a grocery shop. He will purchase grocery stock and after opening a shop he will work hard to increase the income of his family. 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