Total loan: $1,275
Amaghleba, Imereti, Georgia / Agriculture
Jumberi's loan finished fundraising,
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A loan helped to start an animal-husbandry business.
Jumberi is 61 years old and lives in the Chokhatauri District with his wife Julieta. He has asked for several loans from local financial institutions for his start-up business but without any success because of his low income and his family’s poor living conditions. The only source of income the family has is the small monthly salary Julieta earns by working as a teacher at the village school. The family earns a total of 150 GEL per month, which is barely enough to provide food for a two-preson family. According to Credo, the family belongs in the subsistence poor category. Jumberi is requesting a loan from Credo to re-start a family business which he had to stop due to financial problems. He will use his loan to buy rabbits and begin working in animal husbandry. He will buy cages for rabbits to live in and sell their meat, which is in high demand locally. Jumberi's loan request was reviewed within the framework of a new joint initiative of Kiva and Credo. This start-up loan program helps people begin businesses with convenient credit terms that are ideal for the rural poor who do not have access to the usual sources of credit. Jumberi believes that his new business, financed with this Kiva start-up loan, will significantly improve the living conditions of his family.