Total loan: $800
Gardabani, Kvemo Kartli, Georgia / Construction
Tanrikulu's loan finished fundraising,
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A loan helped for purchasing equipment needed for an artisan to repair buildings.
Tanrikulu is 59 years old. He lives in Gardabani District with his wife, two sons and a daughter-in-law. Tanrikulu requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions. Tanrikulu and his son work are artisans. They get orders to repair or to renovate buildings. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category. Tanrikulu requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages 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 Tanrikulu will purchase all the needed equipment for an artisan, such as equipment for cutting stones, wood and walls. This will help him to work more productively and get more orders, which will increase the income of their family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.