A loan of $2,000 helped to purchase a car for trade business (Fruits & Vegetables).

Nugzar's story

Nugzar lives in Kvareli District, East Georgia. He is married and lives with his wife Sophio and 3-year-old daughter. Sophio is a housewife. Nugzar is at the moment unemployed. He works in seasonal agricultural work in the neighboring farms, when he has orders and is paid for his work. The family lives in poverty. According to Credo estimations they belong to the vulnerable poor category. Their average monthly income is 100 Laris.

Nugzar requested credit to restart his business, which was stopped 3 months ago. He used to trade in fruits and vegetables. He was selling green grocery products in nearby towns, but stopped the business, as his old car was out of order. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restartup 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 Nugzar will purchase a better car and will restart the business. He will purchase fruits and vegetables from farmers at wholesale prices and sell them in nearby towns. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned 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