Expired

Total loan: $5,000
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Genad

Georgia
Tamakoni, Georgia / Grocery Store

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


Genad's story

Genad is 52 years old and a married man. He lives in a small village of Martvili district with his wife, two children, and mother. His mother is provided with a retirement pension. His daughter works at a local bakery as a baker, and she gets a small monthly income. Genad has been involved in the agricultural business from early childhood, because his parents were farmers and this is a traditional activity for the family. Sadly, for lack of economic resources and because he had to start working at a very young age, Genad was unable to study for a professional career.

Genad works hard on family-owned agricultural land. He has a vineyard and grows nut trees. He always has high-quality products, which are sold to local retailers for a good price. Besides the agricultural activities, he trades in fruits and vegetables seasonally. As the family has only seasonal income, Genad decided to open a grocery store. He sought credit among local financial institutions, but his attempts were unsuccessful because of his poor living conditions.

The start-up loan program, a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get a loan for starting or re-starting a business. Genad's application was approved under the framework of this program, and he will get a loan of $5000 US. With the received credit, he will purchase a stock of groceries and will open a grocery store. He will offer a wide assortment of products to his customers, to satisfy them. The new business initiative will give him a chance to have financial stability and monthly income.



Loan details

Loan length:

27 months
Disbursed date: August 20, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo
Expired: October 21, 2013

Lenders and lending teams




Loan details

Loan length:

27 months
Disbursed date: August 20, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo
Expired: October 21, 2013