A loan of $1,300 helped to purchase two milking cows.

Marina's story

Marina is 57 years old and lives in the small village of Ambrolauri District with her mother, who receives a retirement pension. Marina requested loans from local financial institutions several times for a family business start-up but without any success. Her loan requests were rejected each time because of low income and her family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have two pigs and walnut trees. They sell the harvested walnuts locally at a good price but it is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Marina requested a loan from Credo to start up a family business. Marina 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 this credit, Marina will purchase two milking cows. After purchasing milking cows, she will be able to produce dairy products to sell. This will increase the income of their 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