A loan of $625 helped to purchase a cow to start up a dairy farm.

Yuri's story

Yuri is from the Khoni district, West Georgia. He is married and lives with his wife, Rita, his 7-year-old daughter, and his mother. Yuri works as a worker in a local lemonade factory. He works, on average, eight hours each day and earns 250 Laris each month. Also, the family has a small piece of land for a vineyard. Most of the harvest is consumed by the family; only a small surplus is sold to the local market. The family lives below the poverty line, and they receive relevant social assistance from their local government. According to Credo estimations, the family belongs to the vulnerably poor category.

Yuri has been planning to start up a family dairy farm for one year, but he didn’t have enough money. He couldn’t get credit from financial institutions because of his poverty and lack of business experience. His loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program provides business start-up and restart-up credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high-risk borrowers” due to their low-income status. With the received credit, Yuri will purchase a cow. Rita will produce cheese, and Yuri’s mother will sell it on the local open market. The income of the family will double, and Yuri will be able to provide better living conditions for his little daughter. In addition to the above mentioned, Yuri’s family 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