A loan of $2,200 helped to purchase a truck with which to begin a new business line, trading in potatoes.


Robert's story

Robert is 44 years old. He lives in Vani District with his 33-year-old wife and two children, who are going to school. The family is living in a special area, populated by persecuted people. Robert 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 main source of income for the family is their agricultural activities. They own a plot of land, where maize is grown. They also have beehives, with bee colonies, and gather honey. The harvested maize and the honey are sold locally at the markets, so Robert can get a small monthly income with which to feed his family.

Recently, Robert requested a loan from Credo to start up a family business. Credo approved his loan request, in the frame of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and restart-up credit with soft conditions, to rural poor people who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Robert will purchase a truck, with which he will start trading in potatoes. He will buy potatoes at the wholesale price, bring them to the capital city, and sell them with the price markup. Robert will use the profit for reinvesting in the same business. This will significantly increase the family income, and they will be able to have better living conditions.



Loan details


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Loan details