Babken is 46 years old. He lives in a village in the Akhalkalaki District in the southern part of the country. Babken is married and lives with his family: wife Grachik, three sons (24, 23 and 17 years old), daughter in law and father (retired). Babken heads the agricultural business of the family, which is the main source of the income for the family. In particular, the family runs a small dairy farm with 5 milk cows. He produces cheese and sells it in the village and inTbilisi (capital city of the country). Also the family owns plot of the land, where barley is grown. Babken sells barley in the village. Grachik is busy with trade. She purchases clothing and kitchen utensils in the wholesale market in Tbilisi and sells them in the village. Total average monthly income of the family is 1100 Laris ($675), including the monthly pension of Babken’s father.
Babken has a loan to purchase additional clothing and kitchen utensils for Grachik’s business. Grachik will diversify the assortment of products for sale and attract additional customers. Her sales will increase and the profit will increase the total monthly income of the family.
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.