A loan of $4,000 helped to buy permeation on the mini-bus line.

David's story

David is a 30-year-old man living in the Gurjaani district of Georgia, with his 29-year-old wife Marina and their two children. David works as a driver on the Gurjaani-Tbilisi mini-bus line. He has previously asked for loans from local financial institutions to start up a business, but has always been unsuccessful. The financial institutions rejected him because of his low income and poor living conditions. David’s wife cannot work because she is looking after the babies, so the only source of income for the family is David's small monthly salary. According to Credo's estimations, the family belongs to the "subsistence poor" category.

David asked for a loan from Credo to start up a family business, and it was approved within the framework of new joint initiative between Kiva and Credo. The start-up loan program is intended to lend capital with soft conditions to the rural poor, so they can start up businesses. They would not otherwise have access to credit products as they are regarded as “high risk borrowers” due to their low income.

David plans to buy the rights to work on the mini-bus line with the loan, which means that he will not have to pay rent as he is currently doing. He will own the line, and won’t have to share the income with anybody. David should therefore get a higher income than before, and this will significantly improve the living conditions of his family. David dreams of being able to provide a better life for his children.

Loan details

Lenders and lending teams

Loan details