A loan of $975 helped to rent agricultural land and purchase maize seeds.


Shota's story

Shota is 23 years old. He lives in the small village of Kvareli District with his parents, brother, and grandmother, who is provided with a retirement pension. Shota requested loan from local financial institutions several times for family business start-up, but without any success. His loan requests were rejected all the 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. The family has a vineyard and 0.3 hectares of agricultural land, where aubergine (eggplant) is grown. They sell the harvested products locally at a good price. The profits are hardly enough to buy food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Shota has requested loan from Credo to start-up a family business. Shota 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. The rural poor are regarded as high risk borrowers because of their low income.

With his credit Shota will rent agricultural land and sow maize. He will do all the agricultural work there to insure in a good harvest. He will sell the harvested maize at a good price and increase the income of his family. The 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