A loan of $975 helped to set up an auto repair workshop.


Temuri's story

Temuri is from the Martvili district of West Georgia. He is 33 years old and lives with his wife, parents and grandmother. Temuri has requested loans from local financial institutions several times for the family business start-up but without any success. His loan requests were rejected all the time because of low income and the family’s poor living conditions. The only source of the income for the family is a monthly pension of Temuri’s father and grandmother as well as a small income earned by Temuri working as an auto mechanic locally. Besides that, the family owns a milk cow and produces dairy products with the received milk. The income is hardly enough for food for a five member family. According to Credo estimations, the family belongs to the subsistence poor category. Temuri requested a loan from Credo to start up the family business. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages a provision of business start-up and re-start-up credits with soft conditions to country rural poor that do not have access to credit products since they are regarded as “high risk borrowers” because of low income. With the received credit, Temuri will set up his auto repair workshop in Kutaisi (the nearby town). He will rent the building and serve the local drivers. Temuri will get a service fee, and the new business initiative financed with the Kiva start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details