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Armen
Armen is a 39-year-old farmer from the village of Ninotsminda. He lives with his wife Lucine, two sons (7 and 5 years old) and his mother. Armen works as a provider in a local hospital. Besides his regular job, he is actively involved in the family agricultural businesses. The family owns two milk cows. The dairy products from the cows are sold locally. The family also has 25 beehives with bee colonies. Honey is sold locally to the retailers. Along with the above-mentioned, they own an agricultural plot (.15 hectare) where they grow potatoes. Harvested potatoes are sold locally to the retailers.

With the requested loan, Armen will purchase 700 kg seeds for potatoes and start sowing. Part of the profit will be used to purchase additional beehives and bee colonies.

Additional Information

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.

About Georgia

  • $6,100
    Average annual income
  • 84
    View loans »
    Georgia Loans Fundraising
  • $7,692,575
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Armen to purchase seed to grow potatoes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 5, 2011
Listed
May 22, 2011
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2012