A loan of $2,500 helped to purchase calves.

Roman's story

Roman is 51 years old. He lives in the small village of Adigeni District with his wife, 2 sons and parents. His parents are provided with a retirement pension. Roman requested a loan from local financial institutions several times for a 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 income for the family is from agricultural activities. In particular, they have a plot of land, where potatoes are grown and they maintain 17 beehives. They sell the harvested potatoes and honey at a good price, but it is hardly enough for food for the family. According to Credo's estimations, the family belongs to the subsistence poor category.

Roman requested a loan from Credo to start up a family business. Roman has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages providing 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, Roman will purchase calves. After the calves are grown, they will be able to produce dairy products to sell, increasing 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