A loan of $2,700 helped to renovate his house to rent to tourists and to fix his damaged car to drive as a taxi.

Guram's story

Guram is 60 years old. He lives in Borjomi district with his 31 year old son George and 36 year old daughter Lia. Guram requested loans from local financial institutions several times for family business, but without any success. His loan request was rejected every time, because of low income and family’s poor living conditions.

Guram’s son George works as a border police officer, his daughter Lia is a social worker. They both work on small monthly salaries, which is the only source of income for the family.
Guram requested a loan from Credo to start a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program involves providing 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 Guram will renovate the house and fix his damaged car. His house was burned and was destroyed. Now he wants to renovate it to rent it out to tourists. After fixing his car Guram will drive it as a taxi. Borjomi district is developing as a summer tourist area and there are a lot of people visiting during the season. Guram will be able to earn good profit from renting the house and also driving the taxi. With the increased income He will be able to make a better life for the family

Loan details

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Loan details