Elkins Finance is a passionate believer in the difference even the smallest loan can make in someone’s life. That is why we support Kiva. Kiva is a non-profit organisation with a mission to connect people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world.
Elkins Finance made a loan today to Malkhaz.
Malkhaz is 38 years old and is from the Samtredia district. He lives with his pensioner mother, school-aged daughter, and his wife, who works as a sick-nurse and gets a small salary. Malkhaz has been unable to start any stable job. He works as a small-scale farmer and harvests nuts and sells them locally during their season. Malkhaz’s family has poor living conditions because their income is insufficient to cover all their daily costs. Malkhaz has sought credit among local financial institutions, but his attempts have been unsuccessful because of his poor living conditions.
Malkhaz is requesting a 2,000 USD loan to purchase a second-hand car and start a taxi business. His loan application has been approved under the framework of a startup program that is joint initiative between Kiva and Credo. This program enables the rural poor and inexperienced people to get a loan for starting or re-starting businesses. Malkhaz will use his loan to serve local people and earn a daily income. His loan will greatly assist him to improve his economic situation and give his family a better lifestyle.