A loan of $4,500 helped to purchase a minibus to transport vegetables to sell.

Ivane's story

Ivane is from a small village in Terjola district. He has a large family which includes parents, his wife, brother, daughter-in-law and two cousins. In the past, Ivane has requested loans several times from local financial institutions in order to start-up a family business but without any success. His loan requests have all been rejected due to low income and the family’s poor living conditions.

The family is actively involved in agricultural activities. Specifically, they have three milking cows whose milk is used to make cheese products. In addition, they have a vineyard with 1200 wine trees. They pick grapes seasonally and produce wine to sell. They sell wine and cheese locally at a good price. However, there is hardly enough for food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Ivane has requested a loan from Credo to start-up a family business and he has now been approved for a loan within the framework of the new joint initiative from Kiva and Credo. The start-up loan program envisages the 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, Ivane will purchase a minibus and will begin trade with groceries. He will transport groceries to sell with his minibus to different villages. This will be an additional source of income for his large 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