A loan of $1,225 helped to purchase a milking cow.


Paata's story

Paata is 43 years old. He lives in the small village of Kareli District with his wife and three children. Paata requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

The family is actively involved in agricultural activities. In particular, they have a plot of agricultural land, where maize, haricot and tomatoes are grown. They sell the harvested products at local markets at a good price. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Paata requested a loan from Credo to start up a family business. Paata 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 his credit Paata will purchase a milking cow. After purchasing a milking cow, they will be able to produce cheese products for selling. This will increase the income of their 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