A loan of $3,000 helped to purchase a stock of salt to wrap into small packages to sell.

Nugzar's story

Nugzar is a 40-year-old married man from Gori district. He lives with his wife, his 14-year-old son and parents, who are provided with a retirement pension. Nugzar has previously requested loans several times from local financial institutions in order to start up a family business but without any success. His loan requests have been rejected all the time because of low income and the family’s poor living conditions.

Nugzar’s wife works at a local printing house and gets a small monthly income. Nugzar is involved in salt distribution, But nowadays he has stopped because of a lack of salt to distribute. Nugzar 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 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 the received credit Nugzar will purchase a large stock of salt. After the salt is purchased he will wrap it into small packages to sell. As the stock will be increased, this will increase the realization and sales of salt. The start-up program will significantly improve the living conditions of their family thanks to Kiva lenders.

Loan details

Lenders and lending teams

Loan details