A loan of $550 helped to pay for a fuel system change for his taxi.

Ruslan's story

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.

Loan details

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Loan details