A loan of $5,000 helped to purchase calves, grow them, and later sell them at a profit.

Seidasad's story

Seidasad is 53 years old. He lives in Ganjala village, Lagodekhi district, with his 48-year-old wife, Shapika. Seidasad 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 family runs an agricultural business. In particular, they have a greenhouse. Seidasad cultivates the land and plants vegetables and greens. The harvested products are sold locally at the markets, and the family gets a small monthly income which is rarely enough to cover their daily expenses.

Seidasad 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 low income.

With the received credit, Seidasad will purchase calves. He will grow them and later sell them at a profit. He will use part of the profit for reinvesting and developing their farming business and another part for providing better living conditions for him and his wife.

Loan details

Lenders and lending teams

Loan details