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Total loan: $3,000
Gora, Shida Kartli, Georgia / Agriculture
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Pridon's loan finished fundraising,
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A loan helped to build a greenhouse.
Pridon is 53 years old. He lives in the village of Gora, Vani District, with his retired brother and sister and nephew. Pridon has requested a loan from local financial institutions several times for family business start-up without any success. His loan requests are rejected all the time because of his low income and the family’s poor living conditions. The main source of income for this family is from agricultural activities. In particular, they have two milk cows, a vineyard and a plot of land where nut trees and vegetables are grown. The cows are milked every day to make dairy products. Harvested vegetables and grapes are sold with the dairy products locally at the markets and the family earns a small monthly income. Pridon requested a loan from Credo to start-up a family business. Pridon has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credit with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Pridon will purchase all the needed materials to build a greenhouse. With the greenhouse, he will be able to sell vegetables not only in summer but wintertime too. This will significantly increase the family income. With the increased income, Pridon will be able to expand his agricultural business and improve the family's living conditions.