A loan of $925 helped to purchase a horse.


Eter's story

Eter is 20 years old. She lives in Telavi District with her husband, Aleksandre, her 2-year-old son and her 63-year-old grandmother.

Eter requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected all the time because of their low income and poor living conditions.

The only source of the income for the family is the monthly pension of Eter’s grandmother. It totals 104 GEL per month. It is hardly enough for food for a four-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Eter requested loan from Credo to re-start-up a family business, which was stopped recently because of the illness of the child and financial problems. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Eter will purchase a horse. Aleksandre will go to the local forest and use the horse to bring wood from the forest. They will sell the wood in the village and earn income. The wood is mainly used by the village population for ovens to heat the houses and cook. The new business initiative will increase the monthly income of the family. Eter hopes that the income will be enough for the family and the new business initiative, financed with the Kiva start-up loan will significantly improve their living conditions.



Loan details


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Loan details