A loan of $3,000 helped to purchase a car to transport agricultural products.

Levan's story

Levan lives in the Adigeni District. He is 22 years old and single. He lives with his mother, who works as a saleslady at a local store, and gets a small monthly salary. The income source for the family is agricultural land, where they grow potatoes that they sell seasonally. In addition, Levan works as an auto mechanic and earns a monthly income.

Levan decided to start a business, as their existing income isn’t enough for the family, and their living conditions are poor. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program has provisions of business start-up and restartup credits with soft conditions to the country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” due to low income.

With the loan, Levan will purchase a car to use for business purposes to transport agricultural products. Another part of the credit will be used to purchase a stock of walnuts. He will purchase them wholesale, and resell for a profit in nearby villages. The income of the family will increase, and the living conditions of the family will improve. In addition, the family will have enough income to access regular credit products, available in the country’s capital market, in the event of need.

Loan details

Lenders and lending teams

Loan details