Total loan: $3,000


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Gardabani, Kvemo Kartli, Georgia / Agriculture

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A loan helped To purchase chicks and a calf.

Nodar's story

Nodar is 58 years old. He lives in Gardabani District with his 52-year-old wife and two children (28 and 30 years old). Nodar has requested a loan from the local financial institutions several times for a family business start-up, but without any success. His loan request has been rejected every time, because of low income and the family’s poor living conditions. The main source of income for the family is from agricultural activities. They have a milk cow. The cow is milked every day and the family makes dairy products, which are sold locally at the markets. Nodar’s daughter is working at the local shop as a seller and gets a small monthly salary. Nodar requested a loan from Credo to start-up a family business. Nodar has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision for business start-ups and re-startup credits with soft conditions for rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Nodar will purchase chicks and a calf. He already has the cages ready, where he will raise the chicks. After the chicks and calf are grown they will be sold at the local markets and Nodar will earn a good profit. He will reinvest part of the profit in the same business, in order to develop their agricultural business and use another part to provide better living conditions for the family.