A loan of $1,100 helped to purchase a plastic cutting machine.

Soso's story

Soso is 53 years old. He lives in the small village of Chokhatauri District with his mother, who is has a retirement pension. Soso requested a loan from local financial institutions several times for a family business start-up without any success. His loan request was rejected because of low income and his family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a plot of land, where maize and nut trees are grown. They sell the harvested products locally earning hardly enough for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Soso is requesting a loan from Credo to for a start-up family business. His loan request was approved by the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-ups and re-startups credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the loan, Soso will a purchase plastic cutting machine so he will be able to get orders and make plastic equipment and earn an 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