A loan of $1,525 helped to purchase calves, then raise and sell them for a higher price.

Teimuraz's story

Teimuraz is 57 years old. He is married, and lives with his wife and daughter in the Kvareli District.

Teimuraz requested a loan from local financial institutions several times for the family business start-up, without success. His loan request was rejected every time, due to low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have a vineyard and 1.5 hectare of agricultural land, where maize is grown.

Teimuraz is very hard working man. He cultivates the land seasonally before sowing, but the income is too small; it is hardly enough for food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

His loan request was approved in the framework of a 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, as they are regarded as “high risk borrowers” due to low income.

With the received credit, Teimuraz will purchase calves, raise them and resell them at a higher price. This will increase the income of the family.

The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details