Funded

Total loan: $325
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Paata

Georgia
Dzevera, Georgia / Farming

A loan of $325 helped to purchase maize, haricot and tomato seeds and fertilizer.


Paata's story

Paata is 52 years old. He lives in the village of Dzevera, Gori district. Paata requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

Paata is an artisan. He is working for private orders in construction and on house renovations to get a small monthly salary. This is the only income for Paata, and it's not enough to cover his monthly expenses.

Paata requested a loan from Credo to start up a family business. Paata 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 with 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.

With his credit Paata will purchase maize, haricot and tomato seeds and fertilizer. As he already owns an agricultural plot of land, Paata wants to cultivate it and plant all the products. The fertilizer will help him to get a good harvest, which will be sold locally at the markets. Part of the profit will be used in the same field, in order to expand his agricultural business. Paata’s income will significantly increase, and he will be able to have better living conditions.



Loan details

Loan length:

14 months
Disbursed date: April 19, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: April 19, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo