A loan of $4,200 helped to purchase stocks of materials for his metal and plastic workshop.

Iuri's story

Iuri, age 52, is a very kind and hard-working married man. He lives with his wife and a grown son in the littoral town of Kobuleti.

Iuri is a joiner and manufactures window frames. His wife is a librarian, and their son works as a security guard at the petrol station. They get monthly salaries.

The existing funds are too small, so Iuri decided to start up his own business. There is a high unemployment rate in the region, and the majority of the inhabitants are self-employed to make a living. To be able to start up his business, he is requesting a USD 4,200 loan. His loan request was approved, in the frame of a new joint initiative of Kiva and Credo.

The start-up loan program envisages provision of business start-up and restart-up credits with soft conditions, to rural vulnerable poor people who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the amount he is asking for, Iuri will found a metal and plastics workshop. He has purchased all the needed equipment for manufacturing and needs money to purchase materials for making doors and windows.

Iuri will manufacture and sell them at a good price, because demand is high in the region. He has already got a large quantity order and hopes his business will be lucrative in future. Iuri used to work as a hired worker in this kind of workshop, and he has proper experience in this field.

This loan will be a great help for Iuri, to generate revenue and give his family better financial stability.

Loan details

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Loan details