A loan of $1,400 helped to start a car wash and purchase essential equipment and a vacuum cleaner.

George's story

George is 22 years old and lives in the Telavi district with his wife and child. He earns an income as a taxi driver and provides services to local people. George's income is not enough to provide food for a three-person family and, according to Credo estimates, the family belongs to the subsistence poor category. George has decided to start a new business to supplement his income but his loan requests have been rejected several times by local financial institutions. He lacks experience with new business start-ups and does not qualify under income requirements.

George is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program envisions providing start-up and re-startup credits with soft conditions to the rural poor, who do not have access to many credit products as they are regarded as “high risk borrowers” because of low income. George will use his loan to start a car wash. He will purchase essential equipment and a vacuum cleaner. George will provide services to local community members and hopes to increase the monthly income of the family. His new business initiative will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details