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Total loan: $1,700
Kobuleti, Adjara, Georgia / Services
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A loan helped to open an auto car wash.
Jano is 24 years old. He lives in Kobuleti District with his mother. Jano 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 his low income and the family’s poor living conditions. Jano has a flat, which is rented out seasonally. His mother works as a cook in a local restaurant. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category. Jano requested a loan from Credo to start-up a family business. Jano has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit Jano will open an auto car wash. He will purchase a special apparatus, which is used for washing cars. After beginning the business he will be able to work hard and increase the income of his family. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of the family.