A loan of $1,525 helped to purchase a milking cow and a pig.


Ilia's story

Ilia, 43 years old, lives in the capital city of Georgia with his wife, four children and father. Ilia requested loans from local financial institutions several times to start a family business, but with no success. His loan requests were consistently rejected due to low income and the family’s poor living conditions.

Nowadays the family is without a source of income. In the Khashuri district the family has a 2.5 hectare plot of land which has not been cultivated for years and provides only a little food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Ilia's request for a loan from Credo to start a family business has been approved 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 Ilia will purchase a milking cow and a pig as he plans to resettle in the Khasuri district and start a husbandry business. He will cultivate the land and produce dairy products after purchasing a milking cow. This will give him a chance to generate income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details