A loan of $1,525 helped to purchase a milk cow and pigs.


Nunu's story

Nunu is 47 years old. She lives in Gardabani District with her husband, Tengiz, her 15-year-old son and her retired father. Nunu requested a loan from local financial institutions several times for a family business startup, but without any success. Her loan request was always rejected because of her low income and the family’s poor living conditions.

The only source of the income for the family is the monthly salary of Tengiz, who is working as a driver for a private company, and the small pension of Nunu’s father. It is hardly enough for food for a four-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Nunu requested a loan from Credo to start up a family business. Her loan request was approved in a new joint initiative of 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 low income.

With the received credit, Nunu will purchase a milk cow and pigs. She will milk the cow and make dairy products for selling. Also, after several months, she will sell piglets with a price markup at the local market. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details