A loan of $4,000 helped to purchase a car and work as a taxi driver.

George's story

George is 55 years old. He lives in a small village of Lagodekhi District with his wife. George requested a loan for a family business start-up from local financial institutions several times, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have two milk cows, whose milk is used in cheese production. In addition, they have 1.25 hectares of agricultural land, where maize and watermelon are grown. They sell the harvested products and the cheese locally at a good price. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

George requested a loan from Credo to start up a family business. His loan request was approved in the frame 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 country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit George will purchase a car and work as a taxi driver. This will increase the income of the family. 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