A loan of $3,000 helped to purchase fruits and vegetables.

Tamar's story

Tamar is from the village of Ude in the southern part of Georgia. She is 56 years old and lives with her husband Peter and 87-year-old mother-in-law. Tamar and Peter have children, but they are married and live separately. Tamar requested a loan from local financial institutions several times for her sales business start-up but had no success. Her loan requests were rejected all the time because of her low income and the family’s poor living conditions.

Tamar and Peter have a milk cow. Tamar produces cheese and sells it in the village. Peter also grows potatoes on the family-owned 0.6 hectare land. He sells the harvest to local wholesalers. The family's total average monthly income is 350 Laris. According to Credo estimations, the family belongs to the subsistence poor category.

Tamar has requested credit for starting up a sales business. The family owns an old small truck, which Tamar and Peter will use for the business. With the requested credit, Tamar will purchase seasonal fruits and vegetables from local farmers and take them with the truck to nearby towns for sale. Tamar will sell the products with a price mark-up and get the profit. Her 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. As a result of the new business initiative, implemented with the assistance of Kiva, the family will get more income. Tamar will be able to assist her children financially and improve her family's living conditions. She plans to increase the volume of trade gradually by reinvesting part of the profit into business.

Loan details

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Loan details