Funded

Total loan: $625
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Temur

Georgia
Matkhoji, Georgia / Furniture Making

A loan of $625 helped to purchase wooden materials for furniture production.


Temur's story

Temur is 53 years old. He lives in a small village of Khoni District, West Georgia with his family: his wife Tamila and two sons (31 and 27 years old). Tamila is a housewife, her sons are unemployed. The only source of income for the family is a milk cow. Tamila produces cheese and sells it in the village. Total average monthly income of the family is 300 Laris. They live in poverty.

Temur is a joiner. He has a small furniture-making workshop in his house, which is stopped at the moment, as Temur couldn't get financial resources for purchasing raw-materials. He requested credit for buying wooden materials for restarting the workshop.

Temur's loan request was approved in the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit, being regarded as "high risk borrowers" because of low income.

With the borrowed funds Temur will be able to re-start the production of furniture, which will be sold in a nearby town. The income of the family will double. For the first year Temur plans to reinvest his profits in the workshop, to increase the volume of production and sales. As a result of the family's increase in income its members will be able to improve their living conditions.



Loan details

Loan length:

14 months
Disbursed date: March 12, 2012
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: March 12, 2012
Facilitated by Field Partner: LLC Micro Finance Organization Credo