A loan of $1,800 helped to purchase a car, to drive as a taxi.

Tamaz's story

Tamaz is 44 years old. He lives in the capital city of Georgia, Tbilisi, with his 28-year-old wife, Lusiana. Tamaz 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.

Tamaz’s wife, Lusiana, is working at the local shop as a seller, and she earns a small daily income. This is the only source of income for the family now.

Recently, Tamaz requested a loan from Credo to start up 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 credit, with soft conditions, to poor people who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Tamaz will purchase a car to drive as a taxi. He had a car before, but after an accident it was totally damaged, and he had to stop working. With the new car, he will continue his work and earn additional daily income for the family. With the increased income, Tamaz and his wife will be able to have better living conditions.

Loan details

Lenders and lending teams

Loan details