A loan of $4,000 helped to pay the toll for a tractor.

Adam's story

Adam is 30 years old. He lives in a small village near the capital city of Georgia with his parents and sister. Adam requested a loan from local financial institutions several times for his family's business start-up but without any success. His loan requests were rejected because of his low income and his family’s poor living conditions.

Adam’s sister works as a teacher at a local school and his mother works as a baker, each generating a small monthly income. Adam has a tractor which he rents out as well. However, their incomes are hardly enough for food for the family. According to Credo estimations, the family is categorized as subsistence poor.

Adam requested a loan from Credo to start a family business. Adam 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 providing 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 Adam will pay a toll for another tractor. After the toll is paid, he will renovate it and rent it out to increase the income of his family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of his family.

Loan details

Lenders and lending teams

Loan details