Funded

Total loan: $1,000
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Gogi

Georgia
Tbilisi, Georgia / Transportation

A loan of $1,000 helped to modify his car to use natural gas and start working as a taxi driver.


Gogi's story

Gogi is 58 years old. He lives in Tbilisi, the capital city of Georgia, with his wife, son and grandson. Gogi requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Nowadays, the family is out of source. According to Credo estimations, the family belongs to the subsistence poor category.

Gogi 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 re-start-up credits with soft conditions to the country’s rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Gogi will modify his car to use natural gas. He plans to serve local people as a taxi driver with his car. As natural gas is much cheaper than other kinds of fuel, he decided on the installation of it. This will decrease the costs, and the income of the family will gradually increase.

The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details

Loan length:

15 months
Disbursed date: March 30, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

15 months
Disbursed date: March 30, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo