A loan of $1,800 helped to expand her shed and purchase a milk cow and feeds for the cattle.


Irma's story

Irma is 47 years old. She lives in Lagodekhi District, East Georgia, with husband and son. Irma is also a librarian and gets monthly income. She requested loans from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected each time, because of low income and family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have 4 calves. Irma owns a bakery, where she bakes different kinds of rolls. It is hardly enough food for a three member family. According to Credo estimations, the family belongs to the subsistence poor category.

Irma requested a loan from Credo to start-up her family business. Her 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, being regarded as “high risk borrowers” because of low income. With the received credit Irma will purchase a milk cow and feeds for the cattle. She also plans to expand her shed and her dairy business. After buying a milk cow, she will be able to produce more dairy products and sell it locally at a good price. It will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.



Loan details


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Loan details