A loan of $1,500 helped to buy a car for trading.

Azer's story

Azer is 36 years old. He lives in Marneuli District with his 26-year-old wife, Sakhiaba. Azer requested a loan from local financial institutions several times for a family business startup, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

He was trading in fruits and vegetables. He was buying at wholesale prices from the Marneuli market and selling with a price markup locally among his villagers. He was earning a small monthly profit with this business, and it was the only income for the family.

He requested a loan from Credo to start up a family business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The Start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Azer will purchase a car. He wants to continue his trading business. He is already very experienced in this field and knows how to satisfy the clients' needs. As he will not have to rent a car, the expenses will be decreased, and he hopes the profit will grow significantly. Part of the profit will be used for reinvesting in the same business, and another part for his family's well being.

Loan details

Lenders and lending teams

Loan details