A loan of $3,000 helped to buy a truck and start up a cargo transportation business.

Pikria's story

Pikria is 31 years old. She lives in Ikalto village, Telavi district, with her 32-year-old husband, Besik, and her retired mother-in-law. Pikria requested a loan from local financial institutions several times, for a family business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions.

Pikria and her husband are working, receiving small monthly salaries. She is an accountant at the local factory, and Besik is an artisan and works on house renovations for private orders. The family also runs an agricultural business. In particular, they have a vineyard and a milk cow. The cow is milked every day to make dairy products, and these are sold with the harvested grapes, at local markets. The family receives some additional income -- specifically, Pikria’s mother-in-law’s monthly pension.

Pikria requested a loan from Credo to start up a family business. Pikria 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 other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With her credit, Pikria will purchase a truck. Her husband will be driving the truck and transporting cargo on private orders. This will help them to earn additional income for the family. The profit will be used for expanding the agricultural business. 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