A loan helped to purchase materials for a greenhouse construction.

Razhden's story

Razhden is 39 years old. He lives in Kutaisi District, West Georgia, with his big family: his wife Natia, two sons (14 and 7 years old), and parents (pensioners)

Razhden requested a loan from local financial institutions several times for the family business start-up but without any success. His loan request was rejected all the time because of insufficient income.

The main source of income for the family is its agricultural business. They have three milk cows. Part of the dairy products is consumed by family members, and the other part is sold on the local market.

The average monthly income of the family is 600 Laris, including the monthly pensions of Razhden’s parents. According to the Credo estimation, the family belongs to the subsistence poor category.

Razhden requested a loan from Credo to start-up a new business – he plans to construct a greenhouse. His loan request was approved in the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages providing a business start-up and then restart-up credits with soft conditions to the country's rural poor. They do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Razhden will buy construction materials for greenhouse construction. He will grow cucumbers, tomatoes, and greens in the greenhouse during the whole year. Natia and Razhden’s parents will be actively involved in the greenhouse works. The family will sell harvested vegetables and greens on local open market.

The new business initiative will significantly increase the income of the family and contribute to improvement of their living conditions.

Loan details

Lenders and lending teams

Loan details