A loan of $975 helped to purchase agricultural land and cultivate wheat.

Irma's story

Irma is 52 years old. She lives in Akhmeta district with her husband Ruslan and her 25-year-old son George. Irma has requested several previous loans from local financial institutions for her family business start-up without any success. Her loan request has been rejected many times because of her low income and her family’s poor living conditions.

The only source of income for the Irma's family is a small monthly income earned by Ruslan and George who work as timber laborers in another district. Together, they earn 300 GEL per month, which is hardly enough to provide food for a three-member family. According to Credo estimates, the family belongs to the subsistence poor category.

Irma is requesting a from Credo to re-start-up her family business which she had to stop due to financial problems. She will use her loan to purchase land to cultivate wheat. Irma's goals are to plant and harvest a good quality production that she will sell at a good price to increase her family's income. Her loan request was approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for country rural poor who do not have access to credit products as they are regarded as “high risk borrowers” due to their low income. Irma's new business initiative, financed with her Kiva start-up loan, will significantly improve the living conditions of her family.

Loan details

Lenders and lending teams

Loan details