A loan of $750 helped to buy a milk cow and produce dairy products.


David's story

59 years old David lives in the a small village of Chiatura district, Tsasri with his 59 year old wife Neli and 92 year old mother Nina. David requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions. Family runs an agricultural business. In particular, they own a vineyard and an agricultural plot of land. David cultivates the land seasonally and sows different kinds of vegetables. Harvested products are sold locally at the markets. Family additional income is David’s mother’s monthly pension. David requested loan from Credo to start-up 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 a milk cow. Neli will be milking the cow every day and producing dairy products. It will be sold together will the harvested products among the villagers and at the local markets. This will help David to earn good profit, which he wants to use for expanding his agricultural business and renovating their house to have better living conditions.



Loan details


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Loan details