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Update on Mnatsakan

Mnatsakan has been using the loans from Kiva several times. Last year he built a greenhouse for the seedlings where he installed heating which has raised his income. He used to buy the seedlings before which was not always of good quality. Right now he grows everything himself. This allowed Mnatsakan to save some money and hold a wedding celebration for his daughter this year.

Mnatsakan plans to invest more into the growth of his greenhouse business. This time he has come to Kiva for a loan in the amount of 22,500 hryvnia with a goal to build an additional greenhouse on the vacant plot of land. This will allow him to increase income and plant more tomatoes.
View original language description ↓

Мнацакан уже несколько раз пользовался кредитами КИВА. В прошлом году он построил теплицу для рассады, сделал там отопление, в результате чего его доход неплохо увеличился. Раньше рассаду приходилось покупать, и она не всегда была хорошего качества. Теперь же он все выращивает сам. Это позволило Мнацакану подкопить средств и сыграть свадьбу дочери в этом году.
Мнацакан планирует еще вкладывать в развитие своего тепличного хозяйства. В этот раз он обратился к КИВА за кредитом в размере 22 500 гривен с целью построить дополнительную теплицу у себя на свободном участке земли. Это даст возможность увеличить доход и садить больше помидор.

Previous Loan Details

Mnatsakan is married with three children, who are 22, 17, and 4 years old. He runs a small farm having two green houses to raise tomatoes, cucumbers and other vegetables. This is a family business. Mnatsakan’s wife and older children help him to take care of green houses. Mnatsakan is a very d... More from Mnatsakan's previous loan »

Additional Information

About HOPE Ukraine

HOPE International, a Christian faith-based non-profit organization, has been operating in Ukraine since 1997. HOPE Ukraine was the organization’s first international venture. In addition to its core microfinance activities, HOPE also supports an active children's ministry in Ukraine in the form of “Tomorrow Clubs,” after-school programs that teach children the gospel through games, skits and songs.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Ukraine

  • $8,200
    Average annual income
  • 10
    View loans »
    Ukraine Loans Fundraising
  • $6,534,900
    Funds lent in using Kiva
  • 8.2
    Ukraine Hryvnia (UAH) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,750 helped Mnatsakan to build an additional greenhouse on the vacant plot of land.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Oct 19, 2012
Nov 16, 2012
Currency Exchange Loss:
Sep 17, 2013