Funded

Total loan: $4,000
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Gia


A loan of $4,000 helped to purchase a car, because his taxi was in an accident.


Gia's story

Gia is 52 years old. He lives in the Gardabani District with his wife and son. Gia applied for a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected every time, because of his low income and the family’s poor living conditions. Gia had a car and worked as a taxi driver. After an accident, his car will not run, and nowadays he doesn’t have any source of income. Gia’s son works as an artisan and receives a monthly income. It is hardly enough to buy food for the family. According to Credo estimates, the family belongs to the “subsistence poor” category. Gia has requested a loan from Credo to re-start the family business. His loan request was approved in the framework of new joint initiative of Kiva and Credo. The start-up loan program envisages providing business start-up and re-start credits on soft conditions to the rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” on the basis of low income. With this credit, Gia will purchase a car. After purchasing the car Gia will be able to continue working. 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

Loan length:

14 months
Disbursed date: January 18, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: January 18, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo