A loan of $1,225 helped to build a shed for chicks, and then buy chicks and raise them for selling.

Ioseb's story

Ioseb is 49 years old. He is married and lives with his wife, 3 children (5, 14 and 16 years old) and his mother in the Terjola District. His mother is provided with a retirement pension. Ioseb 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 low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural business. They have a pig, a calf and two milk cows, whose milk is used in cheese production. They also have 0.8 hectares of agricultural land and a vineyard with 800 samples of grapevines. They harvest grapes and make wine for selling. The income is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Ioseb requested a loan from Credo to start up a family business. His loan request was approved within the framework of 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 country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Ioseb will build a shed for chicks. After the shed is built he will be able to purchase chicks and raise them for selling, and thereby 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