A loan of $325 helped to purchase fertilizers for the cornfield and piglets to start-up a pig farm.

Romeo's story

Romeo lives in the village of Lapankuri, Kakheti Region. He is fifty-seven years old, single, and lives alone. Romeo works as a watchman in a local private dairy farm. His monthly salary is 100 Laris. Romeo owns 0.6 hectares of land, where he grows maize. In the spring and summer months he works hard on his cornfield during daytime and in the evening he goes to the farm, where he stays till morning. According the Credo estimations he belongs to the vulnerable poor category.

Romeo needs money to purchase fertilizers for the cornfield. He tilled the land in April and sowed maize. If he doesn’t use fertilizers, he will get a low quality harvest and will have to sell it for cheap price, which won’t bring any profit. Romeo will also use some part of the credit to purchase piglets to set-up a small pig farm. He wasn’t able to receive the requested loan from local financial institutions, because his income was too small to qualify for regular loan products. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-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” because of low income.

With the received credit Romeo will purchase fertilizers and use them in the cornfield. He will work hard on the plot during the summer to get good harvest. After selling the harvest, Romeo will get profit. Also his piglets will grow and in 7-8 months he will already have 2 pigs, which will give him approximately 18 piglets per year for sale. Romeo will have his own business and his monthly income will significantly improve. The Kiva start-up loan will allow him to improve his living conditions.

Loan details

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Loan details