A loan of $1,100 helped to install gas equipment in his taxi.

Albert's story

Albert is 35 years old. He lives in Tbilisi, the capital city of Georgia, with his parents and sister. Several times, Albert requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

Albert has a car. He is driving it as a taxi and he earns a small, daily income for the family. His sister is working as a stylist in a beauty salon to earn additional income. Their salaries are too small to cover the family's monthly expenses.

Albert requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup 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, Albert will install gas equipment in his car, since it is much cheaper than petrol. He will continue driving the taxi and his profit will be significantly increased. 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