A loan of $5,000 helped to purchase a car to resell.


Temur's story

Temur is 23 years old and is from the Senaki District. He has a large family: a wife, an infant son, a mother, a cousin, a step-daughter and a grandmother, who is provided with a retirement pension. Temur 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.

Temur has a commercial space, which is rented and they get 650 Laris (GEL) per month. It is hardly enough for food for such a large family. According to Credo estimations the family belongs to the subsistence poor category.

Temur requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between 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 Temur will purchase a car cheaply abroad and resell it then at a higher price. He plans to start this kind of business and hopes this will be a source of additional income for his family. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details