A loan of $1,225 helped to rent agricultural land and sow sunflower and maize.


Vartkes's story

Vartkes is 36 years old. He is divorced and lives in the small village of Damia with his retired mother and a brother. The family members run a small dairy farm with two calves and a milk cow, whose milk is used in cheese products. Vartkes sells the cheese products locally.

He requested a loan start up a family agricultural business. His loan request was approved in the frame of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up credits with soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Vartkes will rent 2 ha of agricultural land and sow maize and sunflower there. The family members will do all of the relevant agricultural work to ensure a good quality harvest. The harvested products will be sold at the local open market and this will increase the family income. They will be able to combat their poverty, and in the future the family will have enough income to access regular credit products available from the country’s capital market as needed.



Loan details


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Loan details