A loan of $2,000 helped to purchase two damaged cars and sell the parts.


Archil's story

Archil is 37 years old. He lives in Ikalto village,Telavi district, with his 37 year-old wife, Natia, and retired parents. Archil requested a loan from local financial institutions several times for a family 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 family has a vineyard and a small plot of agricultural land. They grow grapes and different kinds of vegetables. Harvested products are sold locally at the markets. Archil also has a car. He is working on private orders and transports different kinds of cargo to bring additional income to the family. Archil 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 the provision of business start-up and re-startup credits with soft conditions to country rural poor. These people do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Archil will purchase two damaged cars. He will dismantle them for parts and will start selling them separately. As car parts are highly requested in his area, Archil will make a good profit from his new business. Increased income will significantly improve the living conditions of the family.



Loan details


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Loan details