A loan of $5,000 helped to purchase a car to use as a taxi.

David's story

David lives in Kutaisi District. He is 53 years old, married and lives with his wife and 27-year-old daughter. The only source of income for the family is the small salary earned by David working as a watchman locally. The income is not enough for a 3-member family. According to Credo estimations, they belong to the vulnerable poor category.

David decided to start his business as their existing income isn’t enough for the family and their living conditions are poor. His loan request was approved as part of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restartup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, David will purchase a car and serve local people as a taxi driver. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market, in case of need.

Loan details

Lenders and lending teams

Loan details