A loan of $2,100 helped to purchase a car and work as a taxi driver.

Irakli's story

Irakli is 31 years old. He lives in the small village of Mtskheta district with his wife and mother.

Irakli has requested loans from local financial institutions several times for family business start-ups, but without any success. His loan request was rejected all the time because of low income and family’s poor living conditions.

Nowadays the family has no source of income. According to Credo estimations, the family belongs to the subsistence poor category.

Irakli requested a loan from Credo to start a family business. Irakli has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit Irakli will purchase a car. After purchasing a car he will be able to serve local people as a taxi driver and earn income. 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