A loan of $1,275 helped to purchase two milk cows to produce dairy products.


Nikoloz's story

Nikoloz is 53 years old. He lives in Ambrolauri district with his 84-year-old retired mother. Nikoloz 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 the family’s poor living conditions. Nikoloz has a vineyard and an agricultural plot of land. He is cultivating the land himself and then sows maize and haricots. Nikoloz is making wine and sells the harvested products at Ambrolauri local markets. According to Credo estimations the family belongs to the subsistence poor category. Nikoloz requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up 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 their low income. With the received credit Nikoloz will purchase two milk cows. He will produce milk and make dairy products to sell locally at the markets. With the profit, Nikoloz plans to buy more cows and develop his farming. The new business initiative, financed with the Kiva Start-up loan will give him a chance to improve his living conditions and look after his aged mother better.



Loan details


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Loan details