A loan of $2,000 helped to purchase a car in Europe for resale in Georgia.


David's story

David is 23 years old. He lives in a small village of Baghdati District, West Georgia. David lives with his parents and grandmother (retired). The only source of the income for the family is their small-scale agricultural business. They have a vineyard with 300 grape vines and 70 nut trees. David and his father produce wine. They sell wine and nuts in the village. The total average monthly income of the family is 210 Laris, including the pension of David’s grandma. According to Credo estimations the family belongs to the subsistence poor category.

David requested credit for start-up of a trade business. He will purchase cheap cars in Europe and sell them in Georgia for a higher price. It will give additional income to the family. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with easy conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit Alex will purchase a car in Europe and sell it in Georgia for a higher price. For the first time David will reinvest the total profit in the same business to increase the turnover. In the long term, the living conditions of the family will significantly improve and the family will have enough income to access regular credit products available on the country’s capital market, in case of need.



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Loan details