A loan of $1,900 helped to renovate the house and rent the rooms.

Robert's story

Robert is from the Tbilisi city. He is 46 years old, married and lives with his wife and two grown children. One of them works as an assistant at the café and the younger is a student. Robert’s wife works as a nurse at the hospital and Robert is a mini-bus driver. Both of them get a monthly salary.

As the existing income is not enough for the family, Robert decided to start a new business. In particular, he plans to renovate his house properly and rent the rooms. Robert has requested a loan from the local financial institutions several times for a business start-up, but without any success. His loan request was rejected each time because of lack of experience in his new business which is usually demanded by local credit providers.

His loan request was approved under 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 the country's rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the requested loan, Robert will purchase building materials to renovate the house properly for satisfying the personal needs of his clients. Robert hopes his business will be profitable and this will increase his income and the family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

Loan details

Lenders and lending teams

Loan details