A loan of $3,000 helped to purchase a minibus and work on the minibus line.

Edvard's story

Edvard is a 37-year-old married man who lives in the small village of Kobuleti district with his wife, Gulnara, and parents. Gulnara is a teacher at the local public school. Edvard is actively involved in agricultural activities. In particular, he has a plot of agricultural land where nut trees and mandarin trees are grown. He sells the harvested products at the local markets.

As the existing income is seasonal and not enough for a four-member family, Edvard decided to start his own business. All of the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Edvard applied for the credit to MFO Credo. His request was approved in the framework of a Start Up program, which is a joint initiative with Kiva. This program enables the rural poor to start or re-start businesses.

A loan of $3,000 will help him to purchase a minibus. Once the minibus is purchased, he will work on the minibus line and increase the family income. With the increased income, he will be able to improve the living conditions of his family members.

Loan details

Lenders and lending teams

Loan details