A loan of $625 helped to purchase calves.


Telman's story

Telman, 64 years old, lives in a small village in Telavi District with his wife Marine and 20-year-old son. Telman works as a night-watchman in a village vineyard, earning a monthly salary of 130 Laris, the family's only income. According to Credo estimations, they belong to the vulnerable poor category.



Telman has requested a loan to start an agricultural business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup loans with soft conditions to country rural poor who, because they are regarded as “high risk borrowers” due to low income, do not have access to credit products.



With the loan, Telman will purchase six calves, placing them in the old cattle-shed located in his yard. After six months, he will sell the grown calves for a profit. For the first year Telman plans to reinvest the profit in the business to expand it and make it more profitable. As the family will have additional income, their living conditions will significantly improve, and they will have enough income to access regular credit products available on the country’s capital market, in case of need.



Loan details


Lenders and lending teams



Loan details