A loan of $1,200 helped to buy more iron for his workshop.

Koba's story

Koba is 48 years old. He lives in Kutaisi, West Georgia with his son Revaz, 21, and Natia, eighteen; they both are students. Koba requested a start-up loan several times from local financial institutions but without any success. He was rejected due to his low income and the family’s poor living conditions.

Koba has an iron workshop. He gets small orders for the production of iron goods. His income, however, is too small to cover monthly expenses.

Then Koba applied for a 1200 USD loan from Credo. His loan request has been approved within the framework of a new joint initiative between Kiva and Credo. Their start-up loan program will provide credit to the rural poor, who do not have access to loans for those regarded as high-risk borrowers due to their low incomes.

With his loan Koba will buy more iron for his workshop. As he is very experienced and well known among the locals, with a bigger stock he will be able to get more orders and produce such goods as gates, beds and railings. The increase in business will bring more income to the family, enabling Nugzar to reinvest in his workshop and cover more of the family’s monthly expenses.

Loan details

Lenders and lending teams

Loan details