A loan of $3,000 helped to buy a mini-bus to transport fruits and vegetables.


Elvar's story

Elvar is 29 years old. He lives in Marneuli District with his 23-year-old wife and parents. Elvar 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. Elvar and his father are artisans. They work on house renovations on private orders and get small monthly salaries, which are rarely enough to cover the family's monthly expenses. Elvar requested a loan from Credo to start up a family business. Elvar 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, Elvar will purchase a mini-bus. He will start trading with fruits and vegetables. Elvar will buy products from the big market, transport them to the local markets and sell them to the resellers and among the villagers with the price markup. This business will bring a good profit to Elvar. He will use part of the profit for reinvesting in the same field to purchase more products and to be able to offer better choice to the clients. Another part, Elvar will use for the family's well-being. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details