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

Murtuzali's story

Murtuzali is 50 years old. He is married and lives with his wife and son in a small village in Sagarejo district. Murtuzali requested a loan from local financial institutions several times to start a family business, but without any success. His loan request was rejected all the time, because of his low income and his family’s poor living conditions.

Murtuzali is an artisan who works on private orders. In addition he is involved in agricultural activities. In particular, he has a milking cow and two calves, whose milk is used to make cheese products. They sell cheese at local markets for a good price. It is barely enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Murtuzali requested a loan from Credo to start 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 provides credit for business start-up and re-startup 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 incomes. With the credit Murtuzali will purchase additional cows. As additional cows are purchased, the family will be able to produce more cheese products and thus increase their income. 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