A loan of $1,800 helped to purchase a truck for the transportation of goods.

Ivane's story

Ivane is 47 years old. He lives in a small village of the Kakheti, Akhmeta District. Ivane is married and lives with his wife Lia and mother (who is retired). Lia works as a teacher in a local kindergarten. The family has a small vineyard and he sells grapes in the fall. The total average monthly income of the family is 250 Laris. According to Credo estimations the family belongs to the subsistence poor category.

Ivane requested credit for start up of a small village business. In particular, he will purchase a small truck. With the purchased truck Ivane will work on transportation. Mainly he will serve local companies for a certain fee. There are many small sawmills and stone-mills, which often need transportation of their products or raw materials.

His loan request was approved in the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products, being regarded as "high risk borrowers" because of low income.

With the received credit Ivane will get an additional source of the income. Also, it is important that his transportation business won't be seasonal. The income of the family will increase and they will be able to improve their living conditions. Along with the abovementioned the family will have enough income to access regular credit products available in the country's capital market, in case of need.

Loan details

Lenders and lending teams

Loan details