A loan of $1,250 helped to begin trade with the livestock.

George's story

George is 29 years old. He lives in the small village of Sachkhere District with his wife, two sons and parents, who are provided with a retirement pension. George 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.

The family is involved in agricultural activities. In particular, they have 0.7 hectare plot of land, where different kinds of vegetables are grown. Besides they have 6 milking cows, whose milk is used in dairy products. They sell the harvested products with dairy products at local markets at a good price. It is hardly enough on food for the family. According to Credo estimations the family belongs to the subsistence poor category.

George requested loan from Credo to start-up family business. George 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 George will begin trade with livestock. He plans to purchase the livestock at wholesale prices and then resell at higher price. This will increase the income of his family. With increased income, he will be able to expand the business in future. 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