A loan of $1,000 helped to purchase calves for a good price, raise them and then sell the calves at local markets for with a price markup.

Goncha's story

Goncha is 36 years old. She lives in Gardabani District with her retired mother in-law and two sons (Elnur and Gasan). The only source of income for the family is the monthly pension of Goncha’s mother-in law-and her small salary from the shop where she is working as a seller.

Goncha has requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions.

Goncha has requested a loan from Credo to start-up a family business. Her loan request was approved in the framework of 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 their low income.

With the received credit, Goncha will purchase calves for a good price. Her sons will help her, and they will raise the calves for a while to sell them at the local markets with a price markup. Goncha hopes her new business will be profitable so she can reinvest the profits and develop her farming. 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