Elvard is 47 years old. He lives in the small village of Agara with his family: his father (retired), his wife and 5-year-old daughter. The income source for the family is the retirement pension of Elvard’s father and a small monthly salary earned by Elvard’s wife working as a teacher locally.

Elvard is involved in agricultural business. In particular, he owns beehives with bee colonies and sells honey seasonally. Elvard owns agricultural land but he didn’t have financial resources for seasonal agricultural work and plowing. Now his loan request has been approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with easy conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Elvard will plow the land and purchase potato seeds. He will sow it and work hard on the plot during the spring season. After properly done seasonal work, Elvard will get a good harvest in summer. He will sell harvested products to local retailers. The income of the family will increase.

Elvard plans to save some funds for sowing more potatoes next year. The living conditions of the family will improve and the family will have enough income to access regular credit products available on country’s capital market, in case of need.