A loan of $3,400 helped to build a greenhouse.

Levan's story

Levan is 42 years old. He lives in a small village in Vartsikhe, Baghdati district, with his wife and two sons. Levan 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.

The main source of income for the family is from agricultural activities. In particular, they have two milk cows, which are milked every day to produce dairy products. They also have a vineyard, and with the harvested grapes, they make vodka. All the family members are involved in their agriculture and they work hard to earn a small monthly income. Dairy products and vodka are sold at the local market in Baghdati district. The family's additional income is Levan’s salary. He is an artisan and works on private orders on construction and house renovations.

Levan requested a loan from Credo to start up a family business. Levan 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, Levan will build a greenhouse. He will plant there greens and cucumber. After harvesting the products, they will be sold together with other products at the local market, and the family income will significantly increase. Levan hopes to reinvest the profit in his agriculture, in order to develop it and have a better profit. With the increased profit, Levan will be able to insure a better life for his family.

Loan details

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Loan details