A loan of $1,225 helped to build a greenhouse.

Aleksi's story

Aleksi is 39 years old. He lives in a small village of Terjola District with his parents. His parents are provided with a retirement pension. Aleksi requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and his family’s poor living conditions.

The family is involved in agricultural activities. In particular, they have two milk cows, whose milk is used in cheese products. Besides, they have a vineyard, with 500 grapevines. They sell the harvested products and cheese at local markets. Alongside the agricultural activities, Aleksi serves local people as a taxi driver with his car. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Aleksi requested a loan from Credo to start-up family business. Aleksi 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 Aleksi will build a greenhouse. After the greenhouse is built, he will be able to sow the seeds of vegetables and sell the harvested vegetables at a good price. This will increase the income of their family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the family.

Loan details

Lenders and lending teams

Loan details