Total loan: $625
Nagvazao, GA, Georgia / Agriculture
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A loan helped to purchase materials for greenhouse construction.
Gela is from the village Nagvazao, West Georgia. He is 41 years old, married and lives with his family: his wife Marina, a 10 year old daughter and his parents. He has requested loan from a local financial institution several times for an agricultural business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions. The only source of the income of the family is a small dairy farm with 2 milk cows. Gela and Marina produce traditional West Georgian cheese and sell it in the village. Total average monthly income for the family is 300 Laris, including pensions of Gela’s parents. It is hardly enough for food, for a four member family. According to Credo estimations, Gela’s family belongs to the subsistence poor category. Gela has requested loan from Credo for constructing a greenhouse. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Gela will purchase wooden materials and polyethylene cover for the greenhouse. He will grow greens (in winter and spring months) and cucumbers (during summer and fall seasons) in the greenhouse. He will work hard in the greenhouse during whole year to get quality harvests. Gela will sell harvested products on the open market in the nearby town. The new business initiative, financed with the Kiva Start-up loan, will increase the average monthly income of the family by 60 – 70%. The family members will be able to increase their spending to satisfy their daily needs. This will improve their living conditions.