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Ruslan is 19 years old and lives with his family (his parents and a brother) in the small village of Kobuleti district. The source of income for the family is a small-scale agricultural business. In particular, Ruslan and his father cultivate a plot of land where citrus, nuts, and maize are grown. They sell the harvested products at the local open market.

Several times, Ruslan has requested a loan from local financial institutions, but his loan requests were always rejected because of low income and lack of experience in the new business. His current loan request was approved within the framework of a new joint initiative between Kiva and Credo.

Ruslan owns a car and plans to serve the locals as a taxi driver, but he will charge higher prices for his service because the benzene price is high. Not many citizens can afford to use the taxi service at a higher price. Because of the above mentioned problem, Ruslan has decided to change his taxi's fuel system from benzene to gas, which is cheaper than benzene, and will reduce the cost of transportation by 40 to 45 percent. This will allow Ruslan to decrease the price of the service, which will attract many customers.

Increasing the number of customers and cutting his costs will positively affect his profit. He will pay a local auto service center to change the fuel system. The increased income will be used for his family's well-being.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $6,100
    Average annual income
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,637,875
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Ruslan to pay for a fuel system change for his taxi.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Jun 25, 2013
Jul 11, 2013
Currency Exchange Loss:
Jan 18, 2014