A loan of $3,000 helped to purchase a car and start a taxi business.

Ramaz's story

Ramaz is 42-years-old, married and lives with his wife, two school age sons and his father in the Sagarejo district. Ramaz is jobless at the moment. There is a high unemployment rate in the region especially among people up to 40 and Ramaz is unable to find a suitable and well-paying job. Ramaz’s spouse is the only one who makes money in the household, working as an apothecary at the pharmacy. Her monthly wage is approximately $180 which is hardly enough for food and everyday expenses.

According to the government’s estimate, the family belongs to the "vulnerable poor" category and gets small assistance (45 USD per month). As the living conditions are very poor, Ramaz decided to start his own business. All the financial institutions have rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Ramaz applied for a loan from MFO Credo. His request was approved within the framework of their Start Up program, a joint initiative with Kiva, permitting the vulnerable poor to start or re-start businesses. A loan of $3000 will help Ramaz to purchase a secondhand car. He will serve the local people as a taxi driver and transport them in return for a service fee.

Ramaz is very enthusiastic and is a hard working person with a great desire to get ahead. This credit will be a great support for the family. Ramaz is thankful to Kiva Lenders for giving him a chance to generate income.

Loan details

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Loan details