A loan of $1,825 helped to purchase a milking cow.


Patmabaim's story

Patmabaim is 64 years old. She lives in a small village in the Bolnisi district with her husband. Patmabaim requested a loan from local financial institutions several times for family business start-up but without any success. Her loan requests are rejected all the time because of her 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 0.2 hectares of land where haricot [beans] 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. Patmabaim requested a loan from Credo to start-up a family business. Patmabaim 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 restart-up 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 her credit, Patmabaim will purchase milking cows. After purchasing milking cows, she will be able to produce dairy products to sell at local markets. 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