A loan of $3,300 helped to purchase calves.


Akaki's story

Akaki is 24 years old. He lives in Zestaponi District with his 24-year-old wife and parents. Akaki has requested loans from local financial institutions several times for family business start-up, but without any success. His loan request was rejected every time, because of his low income and his family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have two milk cows and two pigs. Also they own a vineyard and plot of agricultural land where they grow vegetables. The cows are milked to make dairy products, and from the pigs they get piglets, which are sold with the dairy and harvested products locally at the markets. Akaki also has a car and he drives it as a taxi to earn additional income for the family.
Akaki requested loan from Credo to start up a family business. Akaki has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program provides 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, Akaki will purchase calves. He wants to expand his agricultural business. He will raise the calves and sell them at a better price and earn additional income. He will reinvest part of the profit in the same business and he will use another part to improve his family's living conditions.



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Loan details