A loan of $5,000 helped to purchase a crane truck.

Viktor's story

Viktor, 41 years old, lives in the Rustavi district with his wife and nine-year-old son. He has requested loans from local financial institutions several times for a business start-up but without any success. His loan requests were all rejected because of his low income and the family’s poor living conditions.

The family runs an agricultural business. They own a plot where potatoes are grown and have bee hives. The honey is sold at local markets, and the family earns a small monthly income.

Viktor requested a loan from Credo to start a business. He has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program helps rural poor people who do not have access to credit products. These rural poor are regarded as “high-risk borrowers” because of their low income.

With his loan, Viktor will purchase a crane truck. He will hire a driver or sometimes drive it himself to provide services. These trucks are used for fixing street lights, putting up advertising banners and for things people can’t reach with a ladder. Not many of these trucks exist in Viktor's district, so he will have a lot of orders and will earn a good profit. This will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details