A loan of $2,000 helped to purchase wool-processing equipment.

Iuri's story

Iuri lives in Vani District, West Georgia, with his retired mother and 18-year-old son. The family is involved in an agricultural business. Iuri owns a vineyard and a plot of land where he grows nuts. The harvested products are sold at the local open market. Besides this, Iuri owns a building-materials workshop and gets monthly income.

Iuri has requested a loan to start his new business. His loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up 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 their low income.

Iuri will use this loan to purchase wool-processing equipment. He will get orders and renew blankets and mattresses. The family's income will increase, and they will be able to improve their living conditions. Part of the profit will be used for financing the education of Iuri’s son.

Loan details

Lenders and lending teams

Loan details