A loan of $1,600 helped to purchase a car and drive it as a taxi.


Zurab's story

64-year-old retired Zurab lives in a small village of the Zestaponi district, Zvare with his retired wife. Zurab requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected all the time, because of low income and his family’s poor living conditions. The family's only source of income is their own pensions, which in total is 195 Lari per month. This amount is rarely enough for the family's food expenses. Zurab requested a loan from Credo to start-up a family business. Zurab 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, Zurab will purchase a car to drive it as a taxi. Zurab wants to increase the family income and for this, he will drive locals around to earn a small daily income. The profit will be used for covering the food expenses and for improving his family's living conditions.



Loan details


Lenders and lending teams




Loan details