A loan of $650 helped to purchase a cow.

Koba's story

Koba is 46 years old. He lives in Khoni District with his 68-year-old mother (pensioner) and 29-year-old son. His son has chronic health problems and receives a pension from the local government. Koba requested loans from local financial institutions several times for a family business start-up, but met no success. His loan request was rejected every time because of low income and poor family living conditions.

The only current source of income for the family is from agricultural business. In particular, they have vineyard of 200 vine trees and produce vines to sell locally at good prices. Koba has 0.5 hectares of land where he sows different kinds of vegetables. In addition, the family has a calf. This is hardly enough food for a three-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Koba requested a loan from Credo to start-up another family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products and are regarded as “high risk borrowers” because of low income. With the received credit, Koba will purchase a cow. After purchasing the cow, he will be able to produce dairy and milk products. This will significantly increase the family income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details