A loan of $2,000 helped to purchase a minibus and get orders to transport cargo.


Tamaz's story

Tamaz is 32 years old. He lives in the small village of Terjola District with his wife, son, parents, brother, daughter-in-law and two cousins. Tamaz requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions. The only source of income for the family is from agricultural activities. In particular, they have 4 milk cows and 4 calves, whose milk is used in cheese products. Besides that, they have a vineyard with 450 grapevines and a 0.9 hectare plot of land where different kinds of vegetables are grown. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category. Tamaz requested a loan from Credo to start-up a family business. Tamaz 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 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 Tamaz will purchase a minibus. After the minibus is purchased, he will get orders to transport cargo and can generate income. 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