A loan of $2,600 helped to purchase a car to use as a taxi.

Malkhaz's story

Malkhaz lives in Gori District. He is 50 years old, married and lives with his wife and two children, who both are students. Malkhaz’s wife works as a saleslady and gets a small monthly income. Malkhaz is, at the moment, unemployed.

The income source for the family is agricultural land, where they grow tomatoes and cherries and sell seasonally. Besides, they run a small dairy farm with 2 milk cows, whose milk is used for cheese products. The family sells their cheese production at the local open market.

Malkhaz 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 in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Malkhaz will purchase a car and serve as a taxi driver to local people. The income of the family will increase and they will be able to improve the living conditions of the family. Malkhaz will be able to finance the education of his children and ensure a better future for them. 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