Funded

Total loan: $600
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Karlo

Georgia
Rustavi, Georgia / Fruits & Vegetables

A loan of $600 helped to install gas equipment in his minibus.


Karlo's story

Karlo is a 36 year old married man who lives with his wife and four children in Rustavi district. His wife is a housekeeper. Karlo trades fruit and vegetables, and has a minibus to use for transporting the fruit and vegetables. In the region there is a high unemployment rate, but self-employment helps inhabitants to make a living. Karlo decided to get a loan, but the local credit providers usually demand experience and some stable income from borrowers, and his credit requests were rejected several times as he was unable to satisfy their requirements. Karlo received the credit in the framework of the joint initiative of Kiva and Credo's startup program, which gives rural poor people the chance to start or re-start businesses. With the loan of $600, he will install gas equipment in his minibus, which is cheaper than petrol. This will reduce his costs and he will be able to transport more fruit and vegetables as he will not have to pay for petrol. With support of the startup program, Karlo will get an opportunity to tackle his financial difficulties.



Loan details

Loan length:

14 months
Disbursed date: August 9, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams




Loan details

Loan length:

14 months
Disbursed date: August 9, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo