A loan of $625 helped to purchase a milk cow.


Guram's story

Guram is 28 years old. He lives in a small village Mereti, Gori district with his wife, retired parents and two children (1 and 6 years old). Guram requested loans from local financial institutions several times for family start up business, but without any success. His loan request was rejected every time, because of low income and family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have a plot of land, where plum and apple trees are grown. Harvested products are sold at the local markets. Family has an additional income from Guram’s parent’s monthly pension. The family's total monthly income is 425 Gel. This amount is barely enough to feed 6 members family.

Guram requested a loan from Credo to start a family business. He has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program involves providing 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 his credit Guram will purchase a milk cow. The cow will be milked every day to produce dairy products. Guram will sell the products at the local market and earn a profit. He is a very hard working man and in the future plans to reinvest the profit in development of the dairy farm by purchasing more milk cows and selling more dairy products. The new business initiative, financed with the Kiva Start-up loan, will give the family an opportunity to cover the food expenses, purchase household items and help improve their living conditions.



Loan details


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Loan details