A loan of $750 helped to start a second-hand auto parts store.

Gela's story

Gela is 35 years old and lives in the small village of Persati with his wife and an infant child. Gela is involved in agricultural business. He owns a vineyard and produces wine and vodka which are sold locally. Several months ago Gela decided to start a new business to supplement his income but his loan requests have been rejected several times by local financial institutions. He lacks experience with new business start-ups and does not qualify under income requirements.

Gela is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program provides start-up and re-startup credits with reduced requirements for the rural poor who do not have access to many credit products as they are regarded as “high risk borrowers” because of low income.

Gela will use his loan to start a store where second-hand auto parts and accessories will be sold. He has already chosen the space for his business and hopes that his business will be profitable. This will increase his monthly income and the new business initiative will significantly improve the living conditions of his family as Gela plans to renovate their house.

Loan details

Lenders and lending teams

Loan details