A loan of $1,225 helped to purchase a milking cow.


Tamaz's story

Tamaz is 66 years old. He is married and lives with his wife, Nanuli, in the small village of Tsnori district, East Georgia. Both of them are provided with a retirement pension. Tamaz 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 only other source of the income for the family is from the agricultural activities. In particular, they have a vineyard. Tamaz does all the agricultural work and works hard to insure a good harvest. They sell wine at local markets. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Tamaz requested a loan from Credo to start up a family business. Tamaz 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 the received credit, Tamaz will purchase a milking cow. As the milking cow is purchased, his wife, Nanuli, will produce cheese products for selling. 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