A loan of $1,525 helped to purchase calves.

Beka's story

Beka is 23 years old, single and lives in a small village of Aghaiani, with his parents. Beka is an assistant of the operator at the local asphalt factory and gets a monthly income. His parents run an agricultural business and grow peaches in their garden. They also graft the plants and sell them in the capital city open market and also sell picked peaches.

Beka requested a loan from local financial institutions several times for an agricultural business start-up, but had no success. His loan request was rejected because of his low income and lack of experience in the new business. Recently, Beka requested credit from Credo. He was planning to start-up the animal husbandry business. His loan request was approved, through a new joint initiative of Kiva and Credo. The start-up loan program provides credit with soft conditions to the country's vulnerable poor, who do not have access to mainstream credit because they are regarded as “high risk borrowers,” due to low income.

With the received credit, Beka will purchase several calves. He will keep the cattle in the shed located in his yard, raise and sell them over five to six months. After selling the calves, he will purchase more of them and go through the same cycle. The new business initiative will increase the income of the family, and Beka will be able to generate profit.

Loan details

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Loan details