A loan of $1,400 helped to start a car wash business.


Guram's story

Guram is 49 years old. He lives in the Telavi district with his wife, retired father and two sons (21 and 24 years old). Guram has requested a loan from local financial institutions several times so he can start a family business. However, he has not had any success. His loan request was always rejected because of his low income and his family’s poor living conditions. Guram's family runs an agricultural business. They have two milk cows, which they milk to be able to sell dairy products. They also have a vineyard and a plot of agricultural land. All the harvested products and dairy products are sold locally at the markets. In addition, Guram makes wooden chairs and sells them to the villagers to earn more money for the family. Guram has requested a loan from Credo to start a family business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides credit to the rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” due to their low income. With the received loan, Guram will purchase all the needed washing products and equipment to open a car wash business. His sons will be helping him so Guram will not have to pay a salary to somebody else. This will significantly decrease his expenses and increase his income. With the increased income, Guram will be able to better look after his aging father and provide a better future for his family.



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