A loan of $1,700 helped to purchase calfs.

Tamaz's story

Tamaz is 31 years old. He lives in a small village of Kakheti Region with his family, his wife Madina and three children (6, 5 and 2 years old). Madina is a housewife. She cares for her family. Tamaz is the only income provider for the family. He works as worker in the village. The total average monthly income of the family is 200 Laris. According to Credo estimations, the family belongs to the subsistence poor category.

Tamaz has requested credit for re-starting an agricultural business, which was stopped 2 years ago, because of lack of funding. Tamaz used to trade with livestock. Now, he has requested credit for restarting the business. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages provisions for business start-up and re-startup credits with soft conditions for the country's rural poor population, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Tamaz will purchase 8-9 calfs and grow them. Calfs will be placed in an old cattle-shed, located in Tamaz’s yard. After a half year, he will sell grown calfs for higher prices and get the profit. For the first 3 cycles, Tamaz will reinvest most of the profit into the business, to increase the turnover. The income of the family will increase and they will be able to combat the poverty. In addition to the above-mentioned, in the future the family will have enough income to access regular credit products available on the country’s capital market, in case of need.

Loan details

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Loan details