A loan of $1,225 helped to purchase chicks.

David's story

David is 49 years old. He lives in the village of Tetritsklebi, Telavi District with his wife and two children (12 and 17 years old). David requested loans from local financial institutions several times for family business start-up, but without any success. His loan requests were rejected all the time, because of low income and family’s poor living conditions.

The family runs an agricultural business. In particular, they have four milk cows and a plot of agricultural land, where apple trees are grown. The cows are milked every day to make cheese. Harvested apples and cheese are sold locally at the markets and the family gets a small monthly income. This is the only source of living for them, which is rarely enough for covering the food expenses.

David requested loan from Credo to start up a family business. David 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, David will purchase chicks. He will raise the chicks and sell them later at a higher price to earn a good profit. Part of the profit David will use to reinvest in the same business and develop his farming. Another part will be used to cover family monthly expenses and provide for his children's future studies.

Loan details

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Loan details