A loan of $1,825 helped to rent a small commercial space and purchase computers and plural techniques.

Ilgar's story

Ilgar is 22 years old. He lives in Ganjala village, Lagodekhi district with his parents. Ilgar requested loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. They have a greenhouse where they grow cucumbers and tomatoes seasonally to sell locally at the markets.

Ilgar 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-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, Ilgar will rent a small commercial space. He will purchase computers and plural techniques. He was working before in a private shop, so he is experienced and knows how to serve people in this field. His shop will be helping all the people who need computer services, as in his village, that’s not accessible for everyone. Ilgar hopes his business will be successful, and he will make a good profit. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of Ilgar and his family.

Loan details

Lenders and lending teams

Loan details