A loan of $900 helped to pay the tax for his car, so he will be able to begin using it to provide taxi services.

Arvelodi's story

Arvelodi lives in the small town of Rustavi. He is 64 years old and a pensioner. He lives with his wife and 12-year-old grandchild. Arvelodi is, at the moment, unemployed. The only source of income for the family is the monthly retirement pensions of Arvelodi and his wife. The family lives in poverty. According to Credo estimations, they belong to the 'vulnerable poor' category.

Arvelodi used to work as a taxi driver with his own car, but his business was stopped because of financial problems. Arvelodi sold his car, but now he decided to restart his 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 restart-up loans with more favourable conditions to rural poor people, who do not have access to standard credit, being regarded as 'high-risk borrowers' because of their low income.

Arvelodi purchased a different car, but he needs money to pay the toll for it. After the tax is paid he will 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

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Loan details