A loan of $2,125 helped to purchase calves for resale.


Anzor's story

Anzor is 48 years old. He lives in the small village of Senaki District with his wife, son, daughter-in-law, grandson and mother, who is provided with a retirement pension. Anzor requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and his family’s poor living conditions.

The only source of income for the family is from the agricultural activities. In particular, they have 4 milking cows, 2 calves, 2 horses, a pig and 2 piglets. They produce cheese and sell it as well as the piglets locally. Besides this, they have a 1.5 hectare plot of agricultural land. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Anzor requested loan from Credo to start-up family business. Anzor 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 Anzor will begin buy and sell calves. He plans to purchase calves and resell after few months at a higher price. This will increase the income of their family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.



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Loan details