Total loan: $2,000
Rokhi, Imereti, Georgia / Agriculture
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A loan helped To purchase vegetable seeds and building materials for the greenhouse.
Lasha is 23 years old. He lives in Rokhi village, Baghdati district, with his 47-year-old father and retired grandparents. Lasha requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected all the time because of his low income and the family’s poor living conditions. The family has a milk cow and a vineyard. They are milking the cow to make cheese. From the harvested grapes, they are making vodka, and they sell it all locally at the markets to get a small monthly income. Lasha requested a loan from Credo to start up a family business. His loan request was approved in the framework 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, Lasha wants to build a greenhouse. He will purchase all the needed building materials and vegetable seeds (tomato, cucumber and greens). Lasha and his father will cultivate the land and plant the seeds; after the plants have grown, they will harvest the product and sell them locally at the markets. This will significantly increase the family's income, and he will be able to improve the family's living conditions.