A loan of $1,600 helped to purchase a car for starting a taxi business.

Nariman's story

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.

Loan details

Lenders and lending teams

Loan details