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.
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.