A loan of $2,125 helped to purchase pigs and calves for starting an animal husbandry business.

Paata's story

Paata is 50 years old. He lives in Telavi District with his mother and 31-year-old son. Paata requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected each time because of low income and the family’s poor living conditions.

The source of income for the family is the monthly pension of Paata’s mother. Besides, he owns a vineyard and has a small seasonal income. According to Credo estimations, the family belongs to the subsistence poor category.

Paata requested a loan from Credo to re-start the family business, which was stopped because of financial problems. 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 credit 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 credit received, Paata will purchase pigs and calves to start an animal husbandry business. He will place cattle in a shed located in their yard, raise them and sell them for a higher price. The new business initiative, financed with the Kiva loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details