Funded

Total loan: $800
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Merab

Georgia
Tbilisi, Georgia / Transportation

A loan of $800 helped to pay a toll for his car.


Merab's story

Merab is 52 years old. He lives with his brother in Tbilisi, the capital city of Georgia. Merab requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected every time because of low income and his family’s poor living conditions.

Nowadays the family is out of resources. According to Credo estimations, the family belongs to the subsistence poor category.

Merab requested loan from Credo for start-up of a family business. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisions provision of business start-up and re-startup credits with soft conditions to a 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, Merab will pay a toll for his car. After the toll is paid, he plans to serve local people as a taxi driver and earn money. The family will have a source of income. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of his family.



Loan details

Loan length:

14 months
Disbursed date: March 19, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: March 19, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo