A loan of $3,000 helped to purchase a car and use it to transport fruits and vegetables.

Badri's story

Badri is 52 years old. He is married and lives with his wife, their 15-year-old son, and his mother. Badri's mother is provided with a retirement pension. Badri 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 family’s poor living conditions.

The only source of income for the family, aside from the pension of Badri's mother, is their agricultural activities. In particular, they have two milking cows, whose milk is used in cheese products. In addition, they have a vineyard and 600 nut trees. They sell approximately 1500 kg of grapes and 600 kg of nuts, seasonally. They earn hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Badri requested loan from Credo to start up a family business. Badri 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 restart-up credits. with soft conditions, to rural poor people who do not have access to other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With the received credit, Badri will purchase a car. After the car is purchased, Badri will be able to trade in fruits and vegetables. He will use his car to transport in different villages, 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

Lenders and lending teams

Loan details