A loan of $3,000 helped to buy a minibus so he can begin a business, transporting people between his village and Batumi.

Manuchar's story

Manuchar is 35 years old. He lives in Kobuleti District, with his wife, mother, brother, and sister-in-law. Manuchar requested 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.

The only source of income for the family is their agricultural activities. In particular, they have a milk cow, whose milk is used in cheese production. In addition, they have a plot of agricultural land where they grow citrus and nut trees. Harvested products are sold locally, at the market, and the family gets a small monthly income that is not enough to feed a five-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Recently, Manuchar requested a loan from Credo to start up a family business. Credo approved his loan request, in the framework of a new joint initiative of Kiva and Credo. The Start-up Loan program envisages provision of business start-up and restart-up credit, with soft conditions, to Georgia's rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Manuchar will purchase a minibus and work on the line. He will transport people between his village and Batumi, and will earn a monthly income. The new business initiative, financed with the Kiva Start-up Loan, will increase the family's income and enable them to have better living conditions.

Loan details

Lenders and lending teams

Loan details