A loan of $1,600 helped to purchase a stock of groceries and open a grocery store.

Levan's story

Levan is 41 years old. He lives in the Zestaponi District with his wife, three children and parents, who receive a retirement pension. Levan has requested a loan from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of his low income and family’s poor living conditions.

Levan works as a distributor at a local company and earns a monthly salary. This is the only source of income for their family. It is hardly enough for cover food for the family. According to Credo's estimate the family belongs in the "subsistence poor" category.

Levan has 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 provides business start-ups and re-startups 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 the credit Levan will purchase a stock of groceries. As the groceries are purchased, he will renovate a space near his house and open a grocery store. This will increase the income of his family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details