A loan of $750 helped to purchase a milking cow.

Kandit's story

Kandit is 61 years old. He lives in Bolnisi District with his wife and son. Kandit requested a loan from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of his low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have a 0.6-hectare plot of agricultural land, where they grow maize and haricot (beans). They sell the harvested products at local markets. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs in the subsistence poor category.

Kandit requested a loan from Credo to start a family business. Kandit has now been approved for a loan within the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides credit with "soft conditions" to start or restart businesses. The program is targeted 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 incomes. With his credit Kandit will purchase a milking cow. After purchasing a milking cow, he will be able to produce dairy products and sell them locally. This will increase the income of his family. 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