A loan of $1,225 helped to start a canteen.


Telman's story

Telman lives in the Sagarejo District. He is 36 years old and lives with his wife, child, brother, sister and sister-in-law. The family runs an agricultural business. In particular, they have three milk cows whose milk is used in cheese products. In addition, Telman works as an artisan and earns a monthly income. Several times, Telman has requested loans from local credit providers, but his loan requests are always rejected because of the lack of experience in the new business. His current loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low incomes. With the received credit, Telman will start a canteen in his village. He will purchase dishes and renovate the space where he will start the business. Telman hopes his business will be profitable and that he will attract many customers since there is no similar canteen nearby. The profit will be reinvested in the same business and Telman will be able to improve the living conditions of his family.



Loan details


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Loan details