A loan of $1,225 helped to buy a milk cow.


Nugzar's story

Nugzar, age 54, lives in Tbilisi, the capital city of Georgia, with his wife, son, and daughter in-law. The family owns a small plot of agricultural land, where they grow greens and a few vegetables for their personal use. Nugzar is currently working for a local aircraft construction company as an artisan and receives a small monthly salary.

Nugzar and his family would like to start a family dairy farm business. He has requested loans from local financial institutions several times for family business start-up capital, but without success. His loan request was rejected each time because of his low income and the family’s poor living conditions.

Nugzar is now requesting a loan from Credo to start up the family business. He has been approved for a loan within the framework of a 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 because they are regarded as “high risk borrowers” due to their low income.

With his loan funds, Nugzar will purchase a milk cow. His wife will milk the cow daily and the family will produce dairy products that will be sold among the local people. In this way, the family will earn an additional income.

This new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details