A loan of $975 helped to buy a milking cow.


Vakhtang's story

Vakhtang is 41 years old. He lives in Samtredia District with his wife, parents and two children. Vakhtang applied for a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were always rejected, because of his low income and the family’s poor living conditions. The only source of the income for the family is from agricultural activities. In particular, they have a greenhouse, where cucumbers are grown. Besides that, they have a plot of agricultural land, where nut trees are grown. They sell the harvested nuts and cucumbers at local markets. It hardly provides enough for food for the family.
According to Credo’s evaluations, the family belongs to the “subsistence poor” category. Vakhtang applied for a loan from Credo to start up a family business. Vakhtang 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 provding business start-up and re-startup credits on 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 credit Vakhtang will buy a milking cow. After purchasing the cow, they will be able to produce dairy products to sell, and thus increase the income of their family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details


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Loan details