A loan of $2,000 helped to purchase a mini-bus.

Tamaz's story

Tamaz is 49 years old. He lives in the Rustavi District with his 48-year-old wife, son, daughter-in-law and two grandchildren (7 and 3 years old). Tamaz requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of his low income and the family’s poor living conditions.

Tamaz was trading scrap with his mini-bus. He was going to the Kvemo Kartli region to collect scrap from the locals and was bringing it to Rustavi scrap resellers. Tamaz was earning a very small monthly income, which was not enough to feed his big family.

Tamaz requested a loan from Credo to re-startup the family business. His loan request was approved in the frame of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business startup 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 their low income. With the received credit, Tamaz will purchase a mini-bus as his old one broke down and he has to sell it as scrap. After purchasing the new mini-bus, he will be able to continue working in the same business, where he is already very experienced. He needs the loan desperately as his mini-bus was the only source of income for the family. With the re started business, Tamaz will try to work harder and provide better living conditions for his family.

Loan details

Lenders and lending teams

Loan details