A loan of $3,500 helped to purchase a mini-bus to work on a bus-line.


Saiat's story

Saiat is 61 years old. He lives in the village of Chapala, Bolnisi district, with his 56-year-old wife, 33-year-old son and his daughter-in-law. Saiat requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have a plot of agricultural land where potatoes, cucumbers and tomatoes are grown. Harvested products are sold locally at the markets and the family gets a small monthly income which is not enough to cover their monthly expenses.

Saiat requested a loan from Credo to start-up a family business. His loan request was approved in the framework of new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Saiat will purchase a mini-bus. He will start driving on a bus-line from Marneuli in the direction of Baku. His new business will bring an additional income to the family and help them to improve their living conditions.



Loan details


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Loan details