A loan of $1,250 helped to purchase calves.

Teimuraz's story

Teimuraz is 54 years old. He lives in Telavi District with his wife, Liana, a housewife. Teimuraz works as an agricultural worker in the village, earning 100 Laris per month. His salary is too small for the family and they live in poverty.

Teimuraz requested a loan to purchase calves. He used to have livestock but the business was stopped 8 years ago because of lack of funds. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Teimuraz will use this loan to restart his business. He will purchase 6 calves and raise them. The calves will be placed in an old cattle shed located in the family yard. In six months, Teimuraz will sell the grown calves and get the income. For the first year, Teimuraz will reinvest the profit in the business to expand it and increase turnover. The family will get additional income, their living conditions will significantly improve and, in the future, they will have enough income to access regular credit products available in the country’s capital market, in case of need.

Loan details

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Loan details