A loan of $2,450 helped to purchase beehives with bee colonies.


Moris's story

Moris is 33 years old. He lives in Kareli District with his sister and father. Moris requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a 1.78-hectare plot of land where haricot, maize and beets are grown. They sell the harvested products locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Moris requested a loan from Credo to start up a family business. Moris 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, Moris will 10 beehives with bee colonies. After the beehives are purchased, they will be able to produce honey for selling. This will increase the income of the family. 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