A loan of $1,225 helped to purchase cheese for resale.

Potola's story

Potola is 50 years old. She lives in Martvili District with her husband. Potola requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural activities. In particular, they have 2 milk cows and a calf. Potola milks the cows every day and produces cheese for selling. Besides that, they have a plot of land, where 100 nut trees are grown. They sell the harvested nuts locally at a good price. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Potola requested a loan from Credo to start-up family business. Potola 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 her loan Potola will begin to buy and sell cheese products. She plans to purchase cheese products from wholesalers and then resell them with a price markup among the villagers. This will increase the income of her 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