Teimuraz M. is 53 years old. He lives in the village of Pshaveli, Kakheti Region. Teimuraz is married and lives with his wife, Leila, his mother, his 28-year-old son, his daughter-in-law and two grandchildren – a 7-year-old boy and a 5-year-old girl. The children go to school.
Sheep-breeding is the main source of income for the family. Teimuraz sells sheep's milk cheese, wool, and lambs. Also, the family has agricultural land with an area of 3 ha, where maize is grown. Along with the above-mentioned, Teimuraz in involved in another family business; they sell flour locally. The total monthly income of the M.’s family amounts to 1200 Laris.
Teimuraz requested a loan from Credo for plowing the land where maize will be sown. The other part of the loan will be used for purchasing feed for sheep. The increase in income will contribute indirectly to the further expansion of their sheep-breeding business – earned income will be used to cover family daily expenses and Teimuraz won’t have to sell the lambs. This will expand the herd of sheep and thus the income received from sales of sheep cheese and wool will increase.
About LLC Micro Finance Organization Credo
LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.