A loan of $3,000 helped to purchase calves.

Elene's story

Elene is 36 years old. She lives in a small village in the Kakheti District, East Georgia, with her family: her husband Temur, her 18-year-old daughter, and her 15-year-old son. Elene’s daughter is a student. Her son goes to school. Temur works as a night watchman at a local private company. Elene leads the family's agricultural business. They have a small vineyard, and Temur sells grapes in the village. The family's total average monthly income is 200 Georgian laris (GEL). According to Credo estimates, the family falls in the subsistence-poor category.

Elene requested credit to start up a new agricultural business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages providing credit to start-ups and re-startups with soft conditions for the country's rural poor, who do not have access to credit products because they are regarded as “high-risk borrowers” due to their low income. Elene will use her loan to purchase and raise 15-17 calves, who will be placed in an old cattle shed in her yard. After half a year, she will sell the grown calves for a higher price and get the profit. For the first 2 cycles of her new business, Elene will reinvest most of the profit to increase her turnover. This will enable the family to increase their income and thereby combat poverty. In addition, in the future, the family will have enough income to access the regular credit products available in the country’s capital market in case of need.

Loan details

Lenders and lending teams

Loan details