A loan of $2,250 helped to purchase phone accessories to resell.

Lasha's story

Lasha is 23 years old. He lives in the small village of Khulo District with his parents and brother. Lasha 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 the income for the family is from agricultural activities. In particular, they have calves and a plot of agricultural land, where potatoes are grown. They sell the harvested potatoes locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Lasha requested a loan from Credo to start up a family business. Lasha 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, Lasha will purchase phone accessories. He has rented a commercial space, where he plans to sell phone accessories. He will work there and also offer to repair his clients' damaged phones. This will 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

Lenders and lending teams

Loan details