A loan of $5,000 helped to purchase a minibus and start trading with groceries.


Murtaz's story

Murtaz is 37 years old. He lives in the small village of Telavi District with his parents, wife and two children. Murtaz 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 from agricultural activities. In particular, they have a plot of agricultural land, where maize is grown. They sell the harvested products locally at a good price. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category. Murtaz requested a loan from Credo to start up a family business. Murtaz 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 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 credit Murtaz will purchase a minibus. After purchasing a minibus he will begin trading with groceries. 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


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Loan details