Total loan: $5,000
Gori, Shida Kartli, Georgia / Services
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George's loan finished fundraising,
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A loan helped to rent a space and purchase auto repair installations.
George is 36 years old. He lives in Gori District with his wife and mother. George requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions. The only source of income for the family is the monthly pension of George’s mother. It makes a total of 150 Laris per month. It is hardly enough for food for a three-member family. According to Credo estimations the family belongs to the subsistence poor category. George requested a loan from Credo to start up a family business. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisions the provision of business start up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit George will rent space and start an auto repair business. George plans to purchase essential auto repair installations such as a tire changer and trim controller in order to respond rapidly to his clients' problems. He believes that acting properly is really essential to attracting more customers. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of the family.