A loan of $3,000 helped to purchase milking cows and hens.

Vladimer's story

Vladimer is 65 years old. He lives in Tbilisi, the capital city of Georgia, with his wife, daughter and son-in-law. Vladimer requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected every time because of his low income and the family's poor living conditions.

Vladimer works as a driver on the minibus line and gets a monthly income. His wife is a teacher at a local school. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Vladimer requested loan from Credo to start up a family business. Vladimer 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 Vladimer will purchase milking cows and hens. As he has a house in the Martkopi district, he has decided to begin an agricultural business there. After purchasing cows and hens, he will begin a husbandry business. In particular, he will sell dairy products and eggs. The income will be reinvested in the business, which will be expanded in the future. 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