A loan of $5,000 helped to purchase a tractor and a milk cow.

Zaza's story

Zaza is 41 years old and lives with his wife, Ekaterine, and their retired parents in the Kvareli district.

Zaza is a farmer, while Ekaterine is a housewife. The family owns a plot of land, where they grow watermelon and grapes, and they sell the harvested products at the local market. On several occasions, Zaza has requested a loan from local financial institutions for an agricultural start-up business, but without any success. His loan requests were always rejected because of his low income and his lack of experience in the business, which is usually demanded by local credit providers. Zaza’s loan request was, however, approved by the Kiva and Credo loan program. The loan program provides businesses with start-up funding to assist the country's rural poor, who do not have access to most credit products as they are regarded as “high-risk borrowers” because of their low incomes.

With the loan proceeds, Zaza would like to purchase a tractor. The tractor would be used to perform agricultural work on the lands of nearby farmers, mainly during tilling and sowing seasons, which would allow Zaza to earn money from those farmers. Zaza plans on saving any profits generated as a result of the loan and tractor and will continue to cultivate his family's own land.

Another portion of the loan proceeds would be used for buying a milk cow, which would be used to produce milk products. They plan on selling their dairy products at the local market and to thereby increase the family's monthly income. Any profits generated will be reinvested in the dairy business.

Loan details

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Loan details