A loan of $750 helped to buy a milk cow.


Vardo's story

Vardo is 63 years old and retired. She lives in Khashuri District with her son. Vardo requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions. Vardo gets a monthly pension of 125 Gel. The family doesn’t have any other source of the income at the moment. Vardo requested a loan from Credo to start-up a family business. Vardo 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 her credit Vardo will purchase a milk cow. She will be milking the cow every day. She will produce cheese, yogurt and other dairy products to sell among the villagers and at the local market. This will give Vardo an opportunity to earn some income for the family and provide better living conditions. She plans to reinvest profit in the same field and try to expand her agriculture.



Loan details


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Loan details