A loan of $750 helped to purchase calves for the start-up of a dairy farm.

Meliton's story

Meliton is 59 years old. He lives in a small village of the Akhmeta District. He lives alone. His only source of income was a milk cow. Meliton used to produce dairy products and sold most of them in the village. At the moment, the cow has stopped milking and he is left without any income. According to Credo estimations he belongs to the subsistence poor category.

Meliton requested credit for purchasing calves. His loan request was approved in 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 credits, with soft conditions to the country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit Meliton will start up a dairy farm. He will purchase 3 calves and grow them. The calves will be placed in an old cattle-shed located in Alex’s yard. After half a year he will start the production of cheese and sell it on the local market to dairy products retailers. His income will increase by 250 - 300 Laris and Meliton will be able to improve his living conditions.

Loan details

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Loan details