A loan of $4,500 helped to buy a truck and use it for transportation.


Avtandil's story

Avtandil is 64 years old. He lives in Ambrolauri District with his wife. Avtandil has requested a loan from local financial institutions several times for a family business startup, but without any success. His loan requests have been rejected each time because of low income and the family’s poor living conditions.

The family's only source of income is from their agricultural activities. They have a cow whose milk is used in cheese production and a vineyard with 300 samples of wine. They sell wine and cheese at local markets. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Avtandil has requested a loan from Credo to start up a family business. Avtandil has been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The startup loan program provides startup and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Avtandil will purchase a truck and use it for transportation. He will get orders to transport different kinds of goods, and this will increase the monthly income of the family. The new business initiative, financed with the Kiva startup loan, will significantly improve the living conditions of the family.



Loan details


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Loan details