Funded

Total loan: $3,000
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George


A loan of $3,000 helped to purchase a car and work as a taxi driver.


George's story

George is 40 years old. He lives in Tbilisi, with his wife and father-in-law. George requested loans from local financial institutions several times for family business start-ups, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

The only source of the income for the family is his wife’s salary, working as a baker. She makes a total of 600 Laris per month. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

George requested loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which 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. After purchasing a car, he will serve people 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

Loan length:

20 months
Disbursed date: January 16, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

20 months
Disbursed date: January 16, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo