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Nariman lives in the town of Kutaisi. He is 28 years old, married, and has a 4-year-old daughter. The only source of income for the family is a small salary (approximately $180 per month) earned by Nariman working as an operator for a private company. As the existing income is not enough to cover everyday expenses, Nariman decided to purchase a car and start a taxi business to get additional revenue in order to ensure that his family members have better living conditions.

Nariman’s loan request was approved within the framework of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and restartup credits with soft conditions to the country vulnerable poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Nariman will buy a secondhand car and serve local people as a taxi driver during his free time. The income of the family will increase and, in case of need, they will have enough income to access regular credit products available in the country’s capital market.

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
  • 28
    View loans »
    Georgia Loans Fundraising
  • $8,567,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Nariman to purchase a car for starting a taxi business.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jul 8, 2013
Jul 27, 2013
Currency Exchange Loss:
Apr 17, 2015