A loan of $2,000 helped to purchase calves.


Gulo's story

Gulo is 50 years old. She lives in Akhmeta District with her husband, Eldar, her mother-in-law, her 27-year-old son, David, her daughter-in-law and two little grandchildren. Eldar is unemployed. Her son is a construction worker and gets a service fee for the work and her mother-in-law is a pensioner.

Gulo requested a loan from local financial institutions several times for agricultural business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of income for the family is the monthly salary of David and the pension of the mother-in-law. The average monthly income of the family is 250 Laris. It is hardly enough for food for a seven-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Gulo requested a loan from Credo to start livestock farming. Her loan request was approved in the framework of 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 for 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, Gulo will purchase calves. She will grow them and sell them after several months. Grown calves will be sold for a good price, bringing additional income to the family. For the next cycle, Gulo will purchase more calves. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Their income will double and the family members will be able to improve their living conditions.



Loan details


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Loan details