A loan of $4,000 helped to purchase calves and raise and resell them at higher price.

Ramin's story

Ramin is 36 years old. He lives in the small village of Bolnisi District with his wife, parents, and aunt. Ramin’s parents and aunt are provided with a retirement pension. He requested a loan from the local financial institutions several times for his family business start-up, but without any success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a plot of land, where cucumbers and tomatoes are grown. They sell the harvested products at local markets. It is hardly enough food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Ramin requested loan from Credo to start a family business. Ramin 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 a provision of business start-up and restart-up credits with soft conditions for 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, Ramin will purchase calves. After purchasing calves, he will raise them and then resell at a higher price. 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

Lenders and lending teams

Loan details