A loan of $1,000 helped to purchase piglets.


Irakli's story

Irakli is twenty-seven years old. He is married and lives in the village of Ikalto, East Georgia. He is married and lives with his wife Alisa, their one-year-old son and Irakli's grandfather who is a pensioner. Irakli works as a baker in a local Georgian traditional bread-bakery. His monthly salary depends on the amount of bread baked during the month. On average he gets 300 Laris per month. Alisa is mainly busy with her little son. According to Credo estimations the family belongs to the subsistence poor category.

Irakli plans to start-up a pig farm, but he doesn’t have enough financial resources. He tried to get credit from several local finance institutions, but was refused, because of the family’s low income, which makes him “a risky client”. Irakli’s 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 their low income.

With the received credit Irakli will purchase 10 piglets. He will grow them and sell the grown piglets at a higher price. Irakli will get more income. He plans to reinvest it in the same business and purchase more piglets. He will expand his business. The family will get additional income and they will be able to provide better care for their little son, as well as other family members. In addition to the above-mentioned, in the future Irakli will have enough income to access regular credit products available on the country’s capital market, in case of need.



Loan details


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Loan details