A loan of $5,000 helped to purchase a minibus and work on the minibus line.

Resan's story

Resan is a 51-year-old married man, who lives in the village of Ortabatumi. He lives with his retired parents, two married and grown sons, and a granddaughter. One of his daughters-in-law works as a nurse at the nursery school, and his sons are artisans. They get monthly salaries. Resan runs a small-scale agricultural business. In particular, he owns a citrus garden, and four beehives with bee colonies. Resan and his family members work hard all day long to earn their living, but their existing income is not enough to cover food and the everyday expenses of such a large family. That is why Resan decided to start his own business.

All of the financial institutions rejected his loan requests, because of his unstable financial condition and lack of experience. After several unsuccessful attempts, Resan applied for 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 vulnerable poor to start or re-start businesses. A loan of $5000 will help him to purchase a minibus. He will work on the minibus line, transporting passengers from his village to Batumi city. The new business initiative will significantly increase the family funds. 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