A loan of $1,900 helped to purchase a car to use as a taxi.

Temur's story

Temur lives in the town of Kutaisi. He is 61 years old and lives with son, daughter-in-law, and 6-year-old grandson. Temur is an auto-mechanic and works at the nearby village. He gets a small monthly salary as well as his son, who is a distributor at a private company.

Temur decided to start his business as their existing income isn’t enough for the family and their living conditions are poor. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and restartup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Temur will purchase a car and serve local people as a taxi driver during his free time. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market, in case of need.

Loan details

Lenders and lending teams

Loan details