A loan of $1,300 helped to purchase a car to use as a taxi.

Iago's story

Iago is a 36-year-old married man with two children living in the town of Rustavi, near the capital city. His wife works as a hair stylist at the beauty salon and Iago is an operator at the petrol station. The couple gets monthly salaries and their income is $270.

As the existing income is not big enough for the four-member family, Iago decided to earn additional income and purchase a second-hand car to use as a taxi. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Iago applied for the credit to MFO Credo. His request was approved in the framework of Start Up program, which is a joint initiative with Kiva, permitting the vulnerable poor to start or re-start businesses. A loan of $1300 will help Iago to start a taxi business. He will serve the local people as a taxi driver and transport them inter-city. Iago is a very enthusiastic and hard working person with a great desire to provide his children with a good education for progress in life. This credit will be a great support for the family. Iago is thankful to Kiva Lenders for giving him a chance to generate income.

Loan details

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Loan details