A loan of $1,100 helped to purchase a computer diagnostic apparatus for cars.

Elvin's story

22-year-old Elvin lives alone in Marneuli district. Several times, Elvin requested a loan from local financial institutions for his business start-up, but without any success. His loan request was rejected each time because of low income and poor living conditions.

Elvin is a car artisan. He has his own workshop where he fixes damaged cars and earns a small monthly income.

Elvin requested loan from Credo to start-up the business. Elvin 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 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, Elvin will purchase a computer diagnostic apparatus for cars. He will be able to diagnose the cars and find the problems to fix them. This will attract more clients and Elvin will have more cars to fix.

The new business initiative, financed with the Kiva start-up loan, will significantly increase Elvin's income and he will be able to expand the business and also improve his living conditions.

Loan details

Lenders and lending teams

Loan details