A loan of $4,300 helped to purchase a minibus so he can transport dairy products to the capital city.


Tengiz's story

Tengiz is 39 years old. He lives in a small village of Tetritskaro District with his wife and two children. Tengiz requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of his low income and the family’s poor living conditions.

The only source of income for the family is from the dairy business. In particular, they have two milk cows, whose milk is used in dairy products. Tengizi’s wife produces cheese and yogurt and sells it at a good price with milk. It is hardly enough income for food for a four-member family. According to Credo estimations the family belongs to the subsistence-poor category.

Tengiz requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of 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 received credit Tengiz will purchase a minibus. After purchasing a minibus, Tengiz plans to go to the capital city with his minibus and sell milk, yogurt and cheese there. He will be able to transport more dairy products with the minibus and this will significantly increase the income of the family. 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