A loan of $5,000 helped purchase a minibus.

Amiran's story

Amiran is 44 years old and is from the small village of Khelvachauri. He lives with his wife, 2 children and mother. His mother is provided with a retirement pension. Amiran requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of the low income and his family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have 2 milk cows, whose milk is used in cheese production. In addition, they have a plot of agricultural land where different kinds of vegetables are grown and 5 beehives with bee colonies. They sell the harvested products and cheese locally in an open market at a good price, but it is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistent poor category.

Amiran requested loan from Credo to start-up a business. His loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program envisages provisioning business start-up and re-startup with credits on soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Amiran will purchase a minibus. After the purchase, he will transport people from his village to Batumi and get a salary. He hopes his project will be profitable and the new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details