A loan of $1,000 helped to purchase a mini-bus.

Kakhaber's story

Kakhaber is 39 years old. He lives in the Zestafoni District with his 33-year-old wife Indira and son who is attending school. Kakhaber requested a loan from the local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of his low income and the family’s poor living conditions.

The only source of income for the family is the small monthly salary of Kakhaber’s wife Indira. She is working in a local shop as a seller. According to Credo estimations the family belongs to the subsistence poor category.

Kakhaber requested a loan from Credo to start up a family business. His loan request was approved under the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Kakhaber will purchase a mini-bus. He will be driving himself and serve the local people by transporting them from their district to different villages. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of his family and Kakhaber will be able to provide a better future for his son.

Loan details

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Loan details