A loan of $2,300 helped to purchase a truck.

Vazha's story

Vazha is 51 years old. He lives in Borjomi district with his 51-year-old wife, Eter and 28-year-old son, Dimitri. Vazha requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected because of low income and his family’s poor living conditions. The only source of income for the family is from real estate. Vazha owns a commercial space in the center of Borjomi which is rented. However, the rental amount is not enough to cover the family's monthly expenses.

Vazha requested a loan from Credo for a start-up family business. His loan request was approved through a new joint initiative of Kiva and Credo. Start-up loan programs envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products and being regarded as “high-risk borrowers” because of low income. With the received credit, Vazha will purchase a truck. He already has collected most of the amount and is missing part of it for purchasing. He will be working on transporting different kinds of cargo and earn additional income for the family. This will help them to cover all the monthly expenses and improve their living conditions.

Loan details

Lenders and lending teams

Loan details