A loan of $5,000 helped to purchase groceries to open a grocery store.

Levan's story

Levan is 34 years old and lives in Kutaisi district. Levan had requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected each time because of low income and his family’s poor living conditions.

Levan has a commercial space, which is rented out and is his only source of income. Levan requested a loan from Credo to start up a family business. Levan 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 Levan will purchase grocery stock and will open a grocery store. After the grocery store is opened, Levan will be able to work and increase his income. With increased income he will be able to improve his living conditions and also expand his business in the future.

Loan details

Lenders and lending teams

Loan details