A loan of $1,825 helped to purchase materials to construct a greenhouse.


Beglar's story

Beglar is 34 years old. He lives in Tskaltubo district with wife Maya and three children (15, 12 and 3 years old). His elder children go to school. Maya is a housewife. Beglar requested a loan from local financial institutions several times to re-start his agricultural business, but without any success. His loan request was rejected all the time, because of his low income and the family’s poor living conditions. The family has a milk cow, dairy products of which are mainly consumed by the family members. Beglar grows greens on a family-owned plot of land. Harvested greens are sold locally. The average monthly income of the family is 250 Laris. It is hardly enough for food for a five member family. According to Credo estimations the family belongs to the subsistence poor category. Beglar requested a loan from Credo to re-start-up a greenhouse of vegetables; Beglar used to have a greenhouse, but it was old and was destroyed. His loan request was approved in the framework of new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up 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 their low income. With the received credit Beglar will purchase materials to construct a greenhouse. He will construct it and grow cucumbers, tomatoes and greens during whole year. It will positively impact the income of the family which will increase and will no longer be seasonal as the greenhouse will function all year round.



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Loan details