A loan of $3,800 helped to purchase a car to use as a taxi.

Karen's story

Karen lives in Ninotsminda District. He is 29 years old and lives with his wife, infant daughter and parents.

Karen is, at the moment, unemployed. The only source of income for the family is growing potatoes which they sell seasonally.

The family lives in poverty. According to Credo estimations, they belong to the 'vulnerable poor' category.

Karen decided to start a business because 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 between Kiva and Credo. This start-up loan programme aims to provide business start-up and re-startup loans with more favourable conditions to the rural poor, who do not have access to standard credit, being regarded as 'high-risk borrowers' because of their low income.

With this loan, Karen will purchase a car and offer a service to local people as a taxi driver. The income of the family will increase and they will be able to improve their living conditions. The family will also have enough income to use the usual sources of credit in the country, in case of need.

Loan details

Lenders and lending teams

Loan details