A loan of $5,000 helped to purchase two cars to start a food business.

Aslan's story

Aslan is 26 years old. He lives in Kutaisi, West Georgia with his 26-year-old wife and two children (seven and three years old). Aslan requested a loan from local financial institutions several times for a 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.

Aslan is an artisan. He is working on constructions for private orders and gets a small monthly income which is rarely enough for the food for the family.

Aslan requested loan from Credo to start up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages a provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Aslan will purchase two cars to start a food business. After purchasing cars he will buy food products at the wholesale price from the big market in Kutaisi district. All the products will be transported by cars in nearby regions to sell with the price markup among the villagers and at the local markets. Part of the profit Aslan will be reinvesting for purchasing more variety of product to offer better choice to the customers. Another part will be used for family well being. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details