A loan of $3,000 helped to purchase chicks.

Gela's story

Gela is 40 years old. He lives in the Gardabani District with his wife, sister, retired mother, and two children (three and four years old). Gela requested a loan from local financial institutions several times for his family's business start-up, but without any success. His loan request was rejected each time, because of their low income and poor living conditions.

The main source of the income for the family is from agricultural activities. They have two milk cows. The cows are milked every day and family makes dairy products, which are sold locally at the markets. Gela’s sister is working at the local shop as a seller and gets a small monthly salary. Additional family income is from Gela’s mother’s monthly pension.

Gela requested a loan from Credo to start-up the family business. Gela has now been approved for a loan within the framework of the 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 rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Gela will purchase chicks. He already has cages ready and will raise them. After the chicks are grown they will be sold at the local markets, and Gela will earn a good profit. He will reinvest part of the profit in the same business, in order to develop their poultry, and he will use another part for the family's well-being. 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