A loan of $925 helped to purchase a milk cow.


Zaal's story

Zaal is 31 years old. He lives in Martvili District with his parents, who are provided with a retirement pension. Zaal requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of his low income and his family’s poor living conditions. The only source of income for the family is from the dairy business. The family has a milk cow whose milk is used in cheese production. They sell the produced cheese locally in an open market at a good price. He makes 250 Laris per month. The monthly pension for his parents is 250 Laris per month. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category. 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 their low income. With the received credit, Zaal will purchase a milk cow. After purchasing an additional milk cow, they will be able to expand the cattle and produce more cheese to sell. 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