A loan of $750 helped to open an auto workshop.

George's story

George is 21 years old. He lives in Khashuri District with wife and father, who is provided with a retirement pension.

George requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected because of low income and the family’s poor living conditions. Nowadays the family is out of sources of income. According to Credo estimations, the family belongs to the 'subsistence poor' category.

George requested a loan from Credo to start a family business. George 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 credit, George will open an auto workshop. He has already purchased an oil replacement unit. He will purchase a stock of oil and filters and will get orders to change oil and filters in cars. 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