A loan of $5,000 helped to purchase a car from Germany at a low cost for resale.


Kakhaber's story

Kakhaber is 26 years old. He lives in Akhaltsikhe district with his 26-year-old wife, Dali. Kakhaber requested loans 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 his family’s poor living conditions. The only source of the income for the family is from trading. Kakhaber has a mini-bus. He goes to the capital city for purchasing factory dairy products at wholesale price. He brings the products to his district to distribute in the local shops with a price markup and earns a small monthly income. Kakhaber 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. They do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit,Kakhaber will purchase a car from abroad at a low cost, bring it to Georgia and resell it at a good price. This will give him a good profit which Kakhaber wants to reinvest to start a car business. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details