A loan of $650 helped to install natural gas pipes in his house.

Jemal's story

Jemal is 36 years old. He lives with his wife and two children (2 and 4 years old) in Batumi city. In fact, the family doesn't have a source of income and they live in poverty. So, Jemal decided to move to his village and rent his house to get a monthly income. He requested a loan from local financial institutions for the business start-up without any success. His loan request was rejected because of his low income and lack of experience in the business, which is usually demanded by local credit providers.

His loan request was approved as part of the new joint initiative between Kiva and Credo. The start-up loan program envisages providing business start-up and re-startup 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 loan, Jemal will cover the costs of installing natural gas piping inside his house. After the house is provided with natural gas for heating and cooking, Jemal will be able to rent his house at a good price. The new business initiative, financed with the Kiva Start-up loan, will increase his monthly income and Jemal will improve the living conditions for his family.

Loan details

Lenders and lending teams

Loan details