A loan of $1,000 helped to renovate his minibus and work on his minibus line.

Genadi's story

Genadi is 27 years old. He lives in a small village in the Khelvachauri District with his wife. Genadi requested loans from local financial institutions several times for a family business start-up but without any success. His loan request was rejected because of low income and the family’s poor living conditions.

The only source of the income for the family is the small salary earned by Genadi working as the driver of a cargo truck. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Genadi requested a loan from Credo to start a family business. Genadi has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages the 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 loan, Genadi will renovate his minibus and work on a mini-bus line. 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