A loan of $4,200 helped to purchase a car for trading fruits and vegetables.

Arif's story

Arif is 47 years old. He lives in Bolnisi District with his 33-year-old wife, father in-law, and brother in-law. Arif requested a loan from local financial institutions several times for his family's business start-up, but without any success. His loan request was rejected every time because of low income and the family’s poor living conditions.

The main income for the family is from agricultural activities. They own a plot of land where fruits and vegetables are grown (potatoes, maize, haricot, and different kinds of fruit). Harvested products are sold at the market in Bolnisi, and the family gets a small monthly income which is not enough to satisfy their daily needs.

Arif 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, Arif will purchase a car. He wants to start trading fruits and vegetables in nearby villages. This will significantly increase their profits. Arif will use part of the profit for reinvesting in the same business and another part to renovate their house, to have better living conditions.

Loan details

Lenders and lending teams

Loan details