A loan of $2,600 helped to purchase a truck for towing cars.


Sergo's story

Sergo is 53 years old. He lives in the Senaki district with his wife, two sons and his retired in-laws. Sergo has previously requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

Sergo owns a car. He is renting it out and gets a small monthly income. In addition, the family's income includes Sergo’s parents in-laws' monthly pension. The total income of the family is rarely enough to cover their monthly expenses.

Sergo has requested a loan from Credo to start-up 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 envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the credit received, Sergo will purchase a truck for towing cars. He will drive it himself, get private orders and earn additional income for the family. With the increased income, Sergo will be able to renovate the house that they live in and provide better living conditions for the family.



Loan details


Lenders and lending teams



Loan details