A loan of $2,100 helped to purchase a car, for work as a taxi driver.

Vladimer's story

Vladimer is 41 years old. He lives in a small village of Lagodekhi District with his wife. Vladimer requested a loan for a family business start-up from local financial institutions several times, but without any success. His loan request was rejected every time, because of low income and the family’s poor living conditions.

The only source of income for the family is their agricultural activities. In particular, they have a plot of land, where different kinds of vegetables are grown. They sell the harvested products locally. The income from this is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Vladimer requested a loan from Credo to start up a family business. His loan request was approved, in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credits, with soft conditions, to country rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Vladimer will purchase a car. After purchasing a car he plans to serve local people as a taxi driver. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details