A loan of $3,700 helped to purchase calves.


Akbar's story

Thirty-four-year-old Akbar is married and lives in the Gardabani district, Jandara village with his wife Tanara. Akbar 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. Akbar has a tractor. He is working locally on a monthly salary. The family is renting a plot of agricultural land, where broom trees are grown. From these trees the family is making brooms and selling them at the local markets. Akbar requested a loan from Credo to start up a family business. Akbar 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 Akbar will purchase calves. He will raise the calves and sell them at a higher price to earn an additional income for the family. Akbar is a very hardworking man. He wants to expand his agriculture and for this he will reinvest part of the profit in the same field. Another part Akbar will use for improving the family's living conditions.



Loan details


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Loan details