A loan of $1,200 helped to purchase calves for dairy farm.

Alex's story

Alex is 46 years old. He lives in a small village of Telavi District, East Georgia. Alex lives with his family: wife – Lia, 22 year old son and 17 years old daughter who goes to school. Lia is a housewife. Alex works as a worker in a local crushing mill. His monthly salary is 500 Laris and it is the only income during the month for the family. According to Credo, he estimates the family belongs to vulnerable poor category.

Alex used to run a dairy farm. He had cows. The family was producing cheese and selling it. Alex sold the cows because he needed cash for covering medical expenses related to the illness of his child. Now Alex requests credit for restarting the dairy farm. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages provisions of business start-up and re-startup credits with soft conditions to the country's rural poor, which do not have access to credit products and are regarded as “high risk borrowers” because of low income. With the received credit, Alex will start up a dairy farm. He will purchase four calves and grow them. Calves will be placed in old cattle sheds, located in Alex’s yard. After a half year he will start production of cheese and sell it on the local market to dairy products retailers. The income of the family will increase by 500 – 600 Laris, which will mean a 100 – 120% increase. The living conditions of the family will significantly improve and the family will have enough income to access regular credit products available in country’s capital market, in needed.

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Loan details