A loan of $1,225 helped to purchase two milking cows.

Vazha's story

Vazha is 52 years old. He lives in the Tskaltubo district with his father, who is provided with a retirement pension. Vazha requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected every the time because of his low income and his family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have a milking cow and a calf, whose milk is used in cheese products. In addition, they have a vineyard and a hectare of agricultural land where maize is grown. They sell the harvested products and cheese at local markets at a good price. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Vazha requested a loan from Credo to start a family business. Vazha 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 reasonable 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 this loan, Vazha will purchase two additional milking cows with which he will be able to produce more cheese to sell. 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