A loan of $2,150 helped to purchase calves.

Tamaz's story

Tamaz is from a mountainous village of Kakheti Region. He lives alone in his village house. He requested a loan from local financial institutions several times, but without any success. His loan request was rejected all the time, because of low income and his poor living conditions.

Tamaz is a taxi driver. He provides transportation service to the population of a nearby town and earns on average 150 Laris per month. According to Credo estimations he belongs to the vulnerable poor category.

Tamaz requested an agricultural loan from Credo to start up a small-scale agricultural business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Tamaz will purchase calves. He will grow them and sell them in 6 months with a price mark-up. With the received income Tamaz will purchase more calves to expand the business. As a result of the Kiva loan Tamaz’s income will increase and he will be able to lift himself out of poverty.

Loan details

Lenders and lending teams

Loan details