A loan of $2,600 helped to start an auto parts store.


Nugzar's story

Nugzar is 46 years old and lives in the capital city - Tbilisi - with his wife and two children (7 and 14 years old). Nugzar is involved in car import business. He buys cars abroad and sells them in Georgia for a higher price. Several months ago Nugzar 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. Nugzar is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program provides startup and re-startup credits with reduced requirements for the rural poor who do not have access to many credit products - as they are regarded as “high risk borrowers” because of low income. Nugzar will use his loan to start a store where auto parts and accessories will be sold. He has already chosen the space for his business and hopes that his business will be profitable. This will increase his monthly income and the new business initiative will significantly improve the living conditions of his family.



Loan details


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Loan details