A loan of $3,000 helped to purchase calves.

Malkhaz's story

Malkhaz is 39 years old. He lives in the village Duisi, Kakheti region with his family, wife Laura, mother (pensioner), 17-year-old daughter, and 3-year-old son. His daughter goes to school. Malkhaz requested a loan from local financial institutions several times for his agricultural business start-up, but without any success. His loan request was rejected every time, because of his low income and the family’s poor living conditions.

Malkhaz works as a shepherd in the village. Most of the time he is out of house at pasture. He earns 150 Laris per month. His salary and pension of his mother are the only source of the income for the family. It amounts to 250 Laris per month. It is hardly enough on food for a five member family. According to Credo estimations, the family belongs to the vulnerable poor category.

Malkhaz requested a loan from Credo to start-up an agricultural business. His loan request was approved in the framework of the 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 the country's rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Malkhaz will purchase up to 30 calves. He will grow them during the following 5-6 months. He will take good care of the calves, as he is an experienced shepherd. After selling the calves, he will purchase more of them and go through the same cycle. The new business initiative will increase the income of the family and they will be able to improve their living conditions.

Loan details

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Loan details