A loan of $300 helped to renovate his car and work as a taxi driver.


Avtandil's story

Avtandil is 43 years old. He lives in the Lanchkhuti District with his wife and 2 children. Avtandil requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected, because of low income and the family’s poor living conditions. The only source of income for the family is a monthly pension from Avtandil’s small income working as a distributor. It is 250 Laris per month. It is hardly enough to supply food for the family. According to Credo estimations the family belongs to the subsistence poor category. Avtandil requested loan from Credo to start-up a family business. His loan request was approved in the frames of 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 to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Avtandil will renovate his car. After the car is renovated, he plans to serve local people as a taxi driver and earn income. This will increase the income of his family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.



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Loan details