A loan of $3,000 helped to renovate first floor of three-floor house for renting out seasonally.


Temur's story

Temur is 60 years old. He lives in Makhinjauri District with his wife, son, daughter in-law and two grandchildren who are going to school. Temur requested loans from local financial institutions several times for a family business start-up but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

Temur has a three-flour house. His whole family lives on the second floor of the house and the third floor is rented seasonally. That’s the family's only income which is not enough to feed its six members. According to Credo estimations the family belongs to the subsistence poor category.

Temur requested a loan from Credo to start-up a family business. His loan request was approved in the framework of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor. They do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Temur will renovate the first floor which can’t be used for living now. After renovating, he will be renting it out seasonally. Because of tourism development in Makhinjauri district, Temur believes that renovating the rooms will help him to earn more income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


Lenders and lending teams



Loan details