A loan of $1,225 helped to buy the necessary equipment for starting up a new car wash business.

Tamaz's story

Tamaz is 24 years old. He lives in a small village of Khobi District, with his parents. 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 low income and the family’s poor living conditions.

The only source of income for the family is their the agricultural activities. In particular, they have a vineyard and a plot of agricultural land, where nut trees are grown. They sell the harvested products locally. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Recently, Tamaz requested a loan from Credo to start up 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 envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Tamaz will start a car wash. He will purchase the essential car-washing equipment and vacuum cleaners for starting the business. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the income and living conditions of the family.

Loan details

Lenders and lending teams

Loan details