A loan of $4,000 helped to purchase a tractor.


Manuchar's story

Manuchar is 29 years old. He lives in a small village in the Chokhatauri District with his mother, Rusudan. Manuchar has requested a loan from local financial institutions several times for a family business start-up. However, he has not had 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 comes from their agricultural activities. Specifically, they have two milking cows, five calves, a pig and piglets. Rusudan produces cheese products and sells them at the local markets. They have 0.6 hectares of agricultural land, where 500 nut trees are grown. They sell 400 to 500 kg of nuts seasonally and at a good price. It is hardly enough to put food on the table for the family. According to Credo estimations, the family belongs to the subsistence poor category. Manuchar has requested a loan from Credo to start a family business. Manuchar has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up credit 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 loan, Manuchar will purchase a tractor. This will enable him to receive orders to transport wood, thereby increasing 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