Funded

Total loan: $1,300
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Gocha

Georgia
Rustavi, Georgia / Transportation

A loan of $1,300 helped to purchase a minibus.


Gocha's story

Gocha is 43 years old. He lives in the Rustavi District with his wife, daughter and mother.

Gocha requested 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 family’s poor living conditions.

The only source of the income for the family is small monthly salary earned by Gocha, working as a distributor at a private company locally. It is hardly enough to pay for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Gocha requested a loan from Credo to start a family business. Gocha has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up 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 Gocha will purchase a minibus and will work on the line to transport people and generate income. He hopes that the business will be profitable and he will be able to provide better living conditions for his family.



Loan details

Loan length:

14 months
Disbursed date: April 12, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: April 12, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo