A loan of $600 helped to renovate his car and work as a taxi driver.

Bondo's story

Bondo is 49 years old from Senaki District. He lives with his wife, 17-year-old daughter and mother, who is provided with a retirement pension. Bondo 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 family’s poor living conditions.

Each member of the family gets monthly income, 28 Laris (GEL) per person, from the government institutions, as they are persecuted. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Bondo requested loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up 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 Bondo will renovate his car and after the car is renovated he will be able to serve local people as a taxi driver. This will give him a chance to increase the income of his family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details