A loan of $900 helped to purchase a milk cow to start up her new business.

Nanuli's story

Nanuli is 55 years old. She lives in the Kutaisi District with her husband, son, daughter, daughter-in-law and an infant granddaughter. Nanuli requested a loan from local financial institutions several times for an agricultural business start-up, without any success. Her loan request was rejected each time due to low income and the family’s poor living conditions. The only source of income for the family is the monthly salary of Nanuli’s husband, working as a local artisan. The family has pigs, and sells piglets seasonally.

The monthly income of the family is 400 Laris. It is hardly enough to feed a six-member family. According to Credo estimations, the family belongs in the vulnerable poor category.

Nanuli requested a loan from Credo to start up a dairy farm. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides for a business start-up, and re-startups. It has credits for soft conditions for the country rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” because of low income. With the received credit, Nanuli will purchase a milk cow. She will place it in an old empty farm building located in their yard. Nanuli will work hard on the farm. She 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

Lenders and lending teams

Loan details