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Arshaluis is 27 years old, married, and living with his wife, parents, brother and a child in the Ninotsminda district. The source of income for the family is the monthly salaries of Arshaluis’s parents. His father is an electrician and his mother works as a cleaner to earn a living. Arshaluis is a very energetic young man and wishes to be financially independent and provide the family with better living conditions. That’s why he decided to apply for the credit and start a taxi business.

His loan request was approved under the framework of the Startup program, which is the joint project of MFO Credo and Kiva. With the received amount, Arshaluis will purchase a secondhand car and transport passengers from his district to Yerevan. His district is mainly populated with Armenians and there is a high demand for traveling in Armenia. Arshaluis hopes his project will be profitable and generate income to satisfy the daily needs of his family.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.


About Georgia

  • $6,100
    Average annual income
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $4,300 helped Arshaluis to purchase a car to use as a taxi.
Repayment Term
22 months (Additional Information)
Repayment Schedule
Aug 6, 2013
Sep 5, 2013
Currency Exchange Loss:
Oct 5, 2013