A loan of $1,625 helped to purchase calves for starting an animal husbandry business.

Susanna's story

Susanna is 26 years old. She lives in Akhalkalaki District with her grandmother and two children. Her husband works abroad and sends his small income to his family. Susanna requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

The family earns their living through an agricultural business. In particular, Susanna grows potatoes, barley and wheat on the family-owned land. The family sells the harvested products locally. Besides that, Susanna’s grandmother is a pensioner. The income is hardly enough, only for food and everyday expenses. According to Credo estimations the family belongs to the subsistence poor category.

Susanna requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The startup loan program envisages provision of business startup and re-startup credits with soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the loan, Susanna will purchase calves to start an animal husbandry business. She will place the cattle in a shed located in their yard, raise them, slaughter and sell the meat for a higher price. The increased profit will be reinvested in the animal husbandry business. The new business initiative will significantly improve the living conditions of the family

Loan details

Lenders and lending teams

Loan details