A loan of $3,000 helped to purchase a car to drive as a taxi.

Artur's story

Artur is 36 years old. He lives in Tbilisi, the capital city of Georgia, with his 35-year-old wife and their two children who are going to school. Artur requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected every time because of low income and family’s poor living conditions.

The only source of income for the family is the monthly salary of Artur’s wife. She is working at the beauty salon as an administrator. The family's total income is so small that they rarely can cover their monthly expenses.

Artur requested a loan from Credo to start up his family business. Artur 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 the provision of business startup and re-startup credits with soft conditions to 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 Artur will purchase a car. He will drive the car as a taxi and earn a daily income. This additional income will help him to improve his family living conditions and provide his children with education in the future.

Loan details

Lenders and lending teams

Loan details