A loan of $700 helped to pay for having his car adapted to run on natural gas instead of petrol, reducing his costs.

Zurab's story

Zurab is 42 years old. He lives in Akhmeta District with his wife, Soso, and his 72-year-old father-in-law. Zurab requested a loan from local financial institutions several times, for a family business start-up, 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 trading in used clothing. His wife buys used clothing from the wholesalers, and sells at a higher price. It is hardly enough to have food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Zurab requested a loan from Credo to start a family business. 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 restart-up credits, with soft conditions, to Georgia's poor people, who do not qualify for regular credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Zurab will purchase a natural gas apparatus for his car. He plans to serve local people as a taxi driver. Because other kinds of fuel cost much more, Zurab prefers to decrease his costs by adapting his car to run on natural gas. The new taxi business 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