A loan of $1,000 helped to purchase a milk cow.


Tamaz's story

Tamaz is 62 years old. He lives in Senaki District with his wife and 9-year-old son who goes to the local school. Tamaz requested a loan from local financial institutions several times for agricultural business start-up, but without any success. His loan request was rejected each time because of low income and the family’s poor living conditions. The only source of income for the family is the monthly salary of Tamaz working locally as an artisan. The monthly income of the family is 500 Laris. It is hardly enough to feed a three-member family. According to Credo estimations, the family belongs to the vulnerable poor category.

Tamaz requested a loan from Credo to start up a dairy farm. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provisions of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Tamaz will purchase a milk cow. He will place it in an old empty farm building located in their yard. Tamaz will work hard on the farm. He will produce cheese and sell it in the village. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Their income will double and the family members will be able to improve their living conditions.



Loan details


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Loan details