A loan of $625 helped to cultivate the land and purchase fertilizers and and seeds of maize and eggplants.


Nargiz's story

Nargiz is 62 years old. She lives in the small village of Lagodekhi District. Nargiz is provided with a retirement pension. Nargiz requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only income for her is a 125 Laris (GEL) monthly pension. It is hardly enough for food for her. According to Credo estimations, the family belongs to the subsistence poor category.

She has a plot of land that is not cultivated. Nargiz requested a loan from Credo to start a family business. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages 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 low income.

With the received credit, Nargiz will cultivate the plot of land and purchase the fertilizers and seeds of maize and eggplant. She will be able to sell the harvested products and generate income, which will enable her to improve her living conditions.



Loan details


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Loan details