A loan of $5,000 helped to purchase a mini-bus and work on a (bus) line.

Pridon's story

Pridon is 32 years old. He lives in Khelvachauri District with his 29-year-old wife, sister, retired father and infant daughter.

Pridon requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Pridon owns an agricultural plot of land where the family grows citrus and different kinds of vegetables and fruit. Harvested products are sold locally at the markets. They get a small monthly income which is not enough to provide for five family members. According to Credo estimations, the family belongs to the subsistence poor category.

Pridon requested a loan from Credo to start up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to the country’s rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Pridon will purchase a mini-bus. He will be driving himself and serving local people within the bounds of the village. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family, and Pridon will be able to provide a better future for his daughter.

Loan details

Lenders and lending teams

Loan details