A loan of $2,500 helped to buy a minibus.

Tengiz's story

Tengiz is 52 years old, and from the Zestaponi district. He lives with his wife, son, daughter-in-law and three grandchildren.

Tengiz works as a builder when he gets orders. Tengiz requested a loan from local financial institutions several times for a family business start-up, without any success. His loan request was rejected every time because of low income and the family’s poor living conditions.

The family runs an agricultural business. Specifically, they have two milk cows, and use the milk for cheese production. They sell cheese locally, in an open market at a good price. In addition, Tengiz has a minibus and transports people to get a monthly income.

It is hardly enough for food for the family. According to Credo estimations, the family belongs in the subsistence poor category.

His loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-ups and re-startups, with credits for soft conditions to the country rural poor, who do not have access to credit products, since they are regarded as “high risk borrowers” due to low income.

With the received credit, Tengiz will buy a new minibus, as the existing one is amortized and needs renovation, and the renovation expense exceeds the income of the family. He plans to buy new one, and satisfy his customers with a comfortable minibus. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details