A loan of $625 helped to build a mill.

Leri's story

Leri is 63 years old. He lives in the Baghdati District with his wife. Leri requested a loan from local financial institutions several times for the family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have six milk cows and a pig. Besides, Leri has a vineyard. It is hardly enough food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Leri requested a loan from Credo to start up a family business. His loan request was approved in the frame of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision 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, Leri will build a mill. After building the mill, he will serve the local farmers and grind cereals. He will get fees and 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

Lenders and lending teams

Loan details