Anatoli is 44 years old and lives in the Kutisi district with his wife and 23-year-old daughter. The only source of income for the family is the small salary earned by Anatoli’s daughter working as a saleslady at the electronic store. Anatoli used to have an auto body repair but the business stopped because of financial problems. According to Credo estimates, the family belongs to the subsistence poor category. Anatoli has decided to start a new business to supplement his income but his loan requests have been rejected several times by local financial institutions. He…
Anatoli is 44 years old and lives in the Kutisi district with his wife and 23-year-old daughter. The only source of income for the family is the small salary earned by Anatoli’s daughter working as a saleslady at the electronic store. Anatoli used to have an auto body repair but the business stopped because of financial problems. According to Credo estimates, the family belongs to the subsistence poor category. Anatoli has decided to start a new 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 under income requirements. Anatoli is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program envisions providing start-up and re-start-up credits with soft conditions to the rural poor, who do not have access to many credit products as they are regarded as “high risk borrowers” because of low income. Anatoli will use his loan to re-start a tin auto body repair. He will renovate the workshop where he will set up the auto repair. Anatoli will provide services to local community members and hopes to increase the monthly income of the family. His new business initiative will significantly improve the living conditions of his family.
To: Rick Leake
I chose this loan because... In this season of giving, I wanted to give back - in your honor! What greater gift than to help someone in need, and someone we can relate to as well. Happy Birthday!
Dedicated
December 6, 2012
by Krystle Parrott
Every day, Kiva connects thousands of people around the world through lending to expand opportunity and alleviate poverty.
Loan Dedications
Kiva lenders can dedicate the loans they make to friends and family. Unlike typical loans, these loans are repaid to Kiva as donations, helping us cover our operational costs and reach even more borrowers. If you haven't already, join us and make a loan today.