A loan of $3,000 helped to renovate a space and purchase a stock of groceries.


Elguja's story

Elguja is 59 years old. He lives in the Lentekhi District with his spouse and son. Elguja has requested loans from the local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected every time, because of his low income and family’s poor living conditions. The only source of income for the family is agricultural activities. In particular, they have two pigs and eight beehives with bee colonies. They sell honey locally at a good price. Besides this, he works as an artisan and gets a small income. It is hardly enough food for the family. According to Credo's estimations, the family belongs to the poor subsistence category. Elguja requested a loan from Credo to start-up a family business. Elguja 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 the provision of business start-up and restart-up 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, Elguja will renovate a space and purchase a stock of groceries. After the renovation is finished and the groceries are purchased, he will be able to open a shop. This will increase the income of their 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