A loan of $2,425 helped to buy a car and drive it as a taxi.

Suren's story

Suren is 51 years-old. He lives in Ninotsminda District with his 49 year-old wife and 23 year-old son. Suren has requested loans from local financial institutions several times in order to start-up a family business but without any success. His loan requests have always been rejected because of his low income and the family's poor living conditions.

The main source of income for the family is from agriculture and they have a plot of land where potatoes are grown. They also have pigs. Pigs are sold as a meat with the harvested potatoes at local markets.

Suren requested a loan from Kiva partner Credo in order to start a family business. His loan request was approved through a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor who do not have access to credit products and are regarded as high risk borrowers due to low income.

With the loan Suren will purchase a car. He will drive it as a taxi to transport villagers. With the new business Suren will be able to earn additional daily income and provide better living conditions for his family.

Loan details

Lenders and lending teams

Loan details