A loan of $600 helped to purchase a mini-tractor.

Elza's story

Elza is 29 years old. She lives in the Gori District with her 31-year-old husband, Vasil, and two children (8 and 7 years old). Elza requested a loan from local financial institutions several times for a 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.

The only source of income for the family is from agricultural activities. They own a small plot of land, where different types of fruits and vegetables are grown. They also have a milk cow. The cow is milked every day to produce dairy products. Elza and her husband are working very hard to earn a small monthly income. They sell dairy products and harvested products at the local markets and among the villagers.

Elza requested a loan from Credo to start up a family business. She 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-start-up 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, Elza will purchase a mini-tractor. Her husband will work on private orders. He will cultivate the neighbors’ land and earn an additional income for the 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