A loan of $700 helped to purchase a car and work as a taxi driver.

Gogita's story

Gogita is 40 years old and lives in the Ozurgeti District of Georgia with his wife and his retired parents, who receive a pension. Gogita has requested a loan from local financial institutions several times for a family business start-up, but without any success. All of his loan requests were rejected because of his family's low income and poor living conditions.

Nowadays the family does not have a source of income except for the small monthly pension of Gogita’s parents. It is hardly enough to buy food for them and according to Credo estimations, the family belongs to the "subsistence poor" category.

Gogita has requested a loan from Credo to start-up a family business and this has now been approved within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with favorable 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 Gogita will purchase a car and serve local people as a taxi driver. This will increase the family income substantially. 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