Total loan: $1,525


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Akhalisopeli, Imereti, Georgia / Construction

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A loan helped To purchase cement and other materials so he can start making cement blocks for his new start-up business.

Mindia's story

Mindia is 38 years old. He lives in the village of Akhalisopeli with his 62-year-old father and 40-year-old brother. Mindia has requested a loan from local financial institutions several times in order to start a family business. However, he has not had success. His loan requests were all rejected because of his low income and his family’s poor living conditions. The family has an agricultural plot of land where nut trees and maize are grown. They also have milk cows, which are milked to make dairy products. By selling the harvested nuts, maize and dairy products locally at the markets, the family earns a small monthly income. However, this is rarely enough to cover their living expenses. Mindia has requested a loan from Credo to start a family business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business loans with soft conditions to the rural poor who do not have access to credit products since they are regarded as “high risk borrowers” because of their low income. With the received loan, Mindia plans to open a cement workshop in which he can make cement blocks. He will purchase all the needed materials such as cement and start making blocks, which will be sold among the resellers. He will use the profits for reinvesting, in order to improve the business and increase its profitability. The new business will give Mindia a chance to grow the family's income and enjoy better living conditions.