A loan of $150 helped to renovate his car and continue working as a taxi driver.

Besik's story

Besik is 28 years old. He lives in the Samtredia District with his wife and two children. Besik requested loans from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

The only source of the income for the family was his car, as he had worked as a taxi driver. It is hardly enough to provide food for the family. According to Credo estimations the family. belongs to the subsistence poor category.

Besik requested a loan from Credo to start up his family business. Besik 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 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, Besik will fix his car. As the car is fixed, he will continue working as a taxi driver. This will increase income of his family. 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