A loan of $4,000 helped to purchase milking cows.

Rapig's story

Rapig is 43 years old. He lives in a small village of Bolnisi District with his wife and mother, who is provided with a retirement pension. Rapig requested a loan from local financial institutions several times for a family business start up, but without any success. His 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. In particular, they have a 0.8 hectare of agricultural land, where potatoes, maize and cucumbers are grown. They sell the harvested products at local markets at a good price. In addition, his wife trades in clothing. It is hardly enough to feed the family. According to Credo estimations the family belongs to the subsistence poor category.

Rapig requested a loan from Credo to start up 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 envisages the provision of business start-up and restart-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 the received credit Rapig will purchase milking cows. He plans to start a husbandry business. They will start producing dairy products to sell. This will increase the income of their family. With the increased income they will expand the dairy farm 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