A loan of $625 helped to purchase calves to start a dairy business.

Sarkis's story

Sarkis is 28 years old. He lives in Kianeti village, Bolnisi District with his 31 year old wife Evgine.

On several occasions, Sarkis requested a loan from local financial institutions for his family business start-up, but was not successful. His loan request was rejected because of his low income and family’s poor living conditions.

Sarkis's family owns a small plot of agricultural land where they grow wheat. The harvested wheat is sold at the local markets. In addition, Sarkis is working as a security guard and gets paid a small monthly salary.

Sarkis requested a loan from Credo for his start-up family business. His loan request was approved by the new joint initiative between Kiva and Credo. The start-up loan program envisages providing credit and soft repayment conditions to the country's rural poor to allow them to fund their start-up businesses. The rural poor do not have access to credit since they are regarded as “high risk borrowers” due to their low income.

Sarkis will use the loan to purchase calves. He will raise the calves and later sell dairy products at the local markets. This will significantly increase his family's income. Sarkis hopes the profit will allow him to provide better living conditions for his wife and himself as well as develop their agricultural business.

Loan details

Lenders and lending teams

Loan details