A loan of $3,000 helped to buy a car and use it as a taxi.


Eldar's story

Eldar is 53 years old. He lives in Marneuli District with his 29-year-old daughter. Eldar requested a loan from local financial institutions several times for a 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 family is out of sources of income at the moment. Eldar requested a loan from Credo to start up a family business. Eldar 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 Eldar will purchase a car. He will drive the car as a taxi to serve local people and earn daily income. This will help him to cover the family expenses and improve their living conditions. Eldar awaits your support.



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