A loan of $375 helped to begin trade with fruits and vegetables.

Temur's story

Temur is 19 years old. He lives in Khoni District with his wife and grandmother, who is provided with a retirement pension. Temur 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 family is involved in agricultural activities. In particular, they have a pig and a milking cow, whose milk is used in cheese products. They milk the cow and produce dairy products for selling, which is the only source of income. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Temur requested a loan from Credo to start up a family business. Temur 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-start-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, Temur will begin trade with fruits and vegetables. He plans to purchase fruits and vegetables from the wholesalers and then resell at a higher price, which enables him to increase the income.

With increased income, Temur will expand his business 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