Funded

Total loan: $1,525
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Nina

Georgia
Ruisi, Georgia / Agriculture

A loan of $1,525 helped to buy green bean, tomato and cabbage seeds to improve her farming activities.


Nina's story

Nina is 48 years old. She lives in a small village in Kareli District. Nina applied for loans from local financial institutions several times, for a family business start-up, but without any success. Her loan request was rejected every time because of her low income and her family’s poor living conditions. Nina is involved in agricultural activities. In particular, she has 1.25 hectares of agricultural land, where different kinds of vegetables are grown seasonally. It provides barely enough food for the family. According to Credo's assessment, the family belongs in the "subsistence poor" category. Nina has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits on soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. The client received the first part (tranche) of the start-up loan, which will be used to buy green bean, tomato and cabbage seeds. Within 30 days after loan disbursement, Credo will monitor the client and, if the loan purpose has been met, will disburse the second tranche, which will be used to hire agricultural workers to help Nina in developing her farming business. After buying the seeds, she will be able to sow them and have a harvest in a few months. The products she harvests will be sold at local markets, and Nina will increase her income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her family.



Loan details

Loan length:

12 months
Repayment schedule: Irregularly
Disbursed date: April 17, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

12 months
Repayment schedule: Irregularly
Disbursed date: April 17, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo