A loan of $1,500 helped to purchase the products and inventory needed to start a café.

Tengiz's story

Tengiz is 57 years old, and lives in Tbilisi, the capital city of Georgia, along with his wife and three children. The family owns a plot of agricultural land, where nut trees are grown. Harvested products are sold at the local markets and to the resellers. This is the only source of the income for the family, which is rarely enough for food for them.

Tengiz has requested a loan from local financial institutions several times for a family business start-up, without success. His loan request was rejected every time, because of low income and the family’s poor living conditions.

Tengiz requested 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 between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup with 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, Tengiz will open a café and he will purchase all the needed inventory and products. Tengiz is very experienced in this field, as he had this business seasonally on the seaside in the Anaklia district. He wants to start the café again, but this time in the capital city, as the income will be more stable.

Tengiz and his wife will work hard in the café and try to do their best to satisfy the client’s needs. The new business initiative, financed with the Kiva start-up loan, will give them an opportunity to earn more income and significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details