A loan of $3,000 helped to purchase a truck to transport wood from the forest.

Genadi's story

Genadi is 46 years old. He lives in the Telavi district of Georgia with his parents and his wife, Khatuna. Genadi has unsuccessfully requested loans from local financial institutions several times to fund the start-up of his family business. His loan requests were rejected because of his family's low income and poor living conditions.

The current sources of the income for Genadi's family are the monthly pension of his parents and the small monthly income of Khatuna, who works as an assistant at a boarding school. The income totals 430 laris per month and is hardly enough to provide food for a four-member family. According to Credo estimations, the family belongs to the "subsistence poor" category.

Genadi requested a loan from Credo to restart his family business, which was stopped because of financial problems. His loan request was approved by a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and restart-up credits with soft conditions to rural poor who do not have access to credit products, since they are often regarded as “high risk borrowers” because of low income.

With the received credit, Genadi will purchase a truck to transport wood from the forest. The wood will be sold in his village and in nearby villages. The new business initiative, financed with the Kiva loan, will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details