A loan of $2,500 helped to purchase equipment to open a car washing center.


George's story

George is 23 years old. He lives in the capital city of Georgia, Tbilisi, with his 22-year-old wife Diana, who is a student. George requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.
George is working in a cleaning company on a small monthly salary, which is the only source of the income for the family. It’s rarely enough to cover all the monthly expenses, especially to pay Diana’s studying fees.
George requested a loan from Credo to start up a family business. George 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 credit George will purchase equipment to open a car washing center. He has already rented a space, which was used as a car washing center before as well. After purchasing all the needed equipment George will wash cars and also carpets. As this place is already known among the locals, and since George will offer them new services, such as washing the carpets, he will have good numbers of clients. George is a very hard working man. He wants to earn more income to provide for his wife's studying and improve the family living conditions.



Loan details


Lenders and lending teams



Loan details