A loan of $5,000 helped to purchase cars for resale.

Levan's story

Levan is 31 years old, married, and lives in Khashuri district with his retired mother, wife and an infant son. Levan is involved in his newly-started business of importing cars. The cars are sent from Germany and Levan sells them in Georgia for a profit. Several months ago, Levan decided to expand his business to supplement his income, but his loan requests have been rejected several times by local financial institutions. He lacks experience with new business start-ups and does not qualify for a traditional loan under income requirements.

Levan is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program provides start-up and restart-up loans with reduced requirements for the rural poor who do not have access to many credit products because they are regarded as “high-risk borrowers." Levan will use his loan to go to Germany himself and purchase two cars to resell for a profit. He hopes that his business will be profitable. By increasing his monthly income, he hopes that the new business initiative will significantly improve the living conditions of his family.

Loan details

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Loan details