Funded

Total loan: $2,725
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Merab


A loan of $2,725 helped to purchase 500 chicks and chicken food.


Merab's story

Merab is 57 years old and lives in Zestafoni District with his retired mother Lali. Merab requested loans from local financial institutions several times for the family business start-up but without any success. His loan requests were rejected because of low income and his family’s poor living conditions.

Merab owns an agricultural plot of land where he has a vineyard and nut trees. Merab harvests grapes and nuts, makes wine and sells the products locally at the market. According to Credo estimations the family belongs to the subsistence poor category.

Merab requested a loan from Credo to start-up a family business. His loan request was approved in a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor. They do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Merab will purchase 500 chicks and chicken food, grow them and sell them at a profitable price locally in Zestaponi markets. Merab will use the profit to reinvest in the same business and in future he will also start selling eggs. The new business initiative, financed with the Kiva Start-up loan will give Merab chance to improve the living conditions and look after his aged mother.



Loan details

Loan length:

21 months
Disbursed date: February 26, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

21 months
Disbursed date: February 26, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo