A loan of $850 helped to start a dental clinic locally.

George's story

George is 23 years old. He lives in Chiatura District with his parents. George has requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected all the time because of low income and the family’s poor living conditions.

George is a dentist and he is working in a local clinic where he gets a small monthly salary. His father is retired and gets a pension. Also, his mother is an invalid and gets a small monthly payment from the government. According to Credo estimations, the family belongs to the subsistence poor category.

George requested a loan from Credo to start-up a family business. His loan request was approved in the frames of 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 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, George wants to rent a place to start a dental clinic locally. He will purchase all the needed dental equipment and operative supplies. George hopes his business will be profitable as he already has his clients from the current job. The new business initiative, financed with the Kiva start-up loan will increase his income and his family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

Loan details

Lenders and lending teams

Loan details