Total loan: $1,825
Kvarkheti, Kakheti, Georgia / Agriculture
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A loan helped to purchase calves at a good price, raise them and then sell with a price markup.
Gocha is 32 years old. He lives in Kvarkheti village, Gori district, with his mother, two brothers and two sisters. Gocha requested a loan from local financial institutions several times for family business start-up but without any success. His loan request was rejected all the time because of their low income and the family’s poor living conditions. The only source of the income for the family is from agricultural activities. They own a plot of land where garlic and apples are grown. The harvested products are sold locally at the markets. They make a very small monthly income which is not enough to feed six family members. Gocha requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to country rural poor who do not have access to credit products being regarded as “high risk borrowers” because of low income. With this loan, Gocha will purchase calves. He plans to buy them at a good price, raise them and then sell them with a price markup. With part of the profit, Gocha plans to develop his agriculture and will use the rest for the family's well-being. The new business initiative, financed with a Kiva start-up loan, will significantly improve the living conditions of the family.