A loan of $2,300 helped to purchase a minibus and transport passengers.


Mikheil's story

Mikheil is 37 years old. He lives in a small village of Sachkhere District, with his wife, three children and parents. HIs parents are provided with a retirement pension. Mikheil 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. The only source of income for the family is their agricultural activities. They have three milking cows, whose milk is used in cheese products. They sell cheese at local markets at a good price. They earn hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Recently, Mikheil requested a loan from Credo to start up a family business. Mikheil 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 restart-up 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 Mikheil will purchase a minibus. After purchasing a minibus, he will be able to transport people and increase the income of his family. 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