A loan of $1,000 helped to buy a car and work as a taxi driver.


Konstantine's story

Konstantine is 31 years old and lives in Tbilisi with his parents, three brothers and grandmother, who receives a retirement pension. He has requested loans from local financial institutions several times for a start-up, but without any success. His loan request was rejected because of low income and family’s poor living conditions. He works as a gardener and his father is a driver, and they both earn a small monthly income. There is hardly enough on food for the family. According to Credo estimates the family belongs in the subsistence poor category.

Konstantine is requesting a loan from Credo to start-up a family business. He has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides start-up and re-startup credits with easy terms to rural poor people who do not have access to credit products. These people are regarded as high-risk borrowers because of their low income. With his credit Konstantine will buy a car and work as a taxi driver. He will continue working as a gardener every third day and drive the taxi on the other two. The new business initiative will significantly improve the family's living conditions.



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Loan details