Total loan: $1,825
Kabali, Kakheti, Georgia / Agriculture
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A loan helped to build a greenhouse to grow tomatoes and cucumbers.
Akpar is 32 years old. He lives in the small village of Lagodekhi District with his wife and 3 sons. Akpar requested loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected, because of low income and family’s poor living conditions. Akpar trades seasonal fruits and vegetables. He buys a stock of fruits and vegetables from the wholesalers and then sells them locally at a higher price. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category. Akpar requested a loan from Credo to start-up a family business. His loan request was approved in the frames of 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 country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Akpar will build a greenhouse. After building a greenhouse, he plans to sow tomatoes and cucumbers. He will sell the harvested products locally at a good price. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.