Funded

Total loan: $625
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Genadi


A loan of $625 helped to purchase a milking cow.


Genadi's story

Genadi is 48 years old. He lives with his wife in the small village of Martvili District. Several times, Genadi requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

Genadi is actively involved in agricultural activities. In particular, his family has a plot of agricultural land where nut trees are grown. They sell the harvested nuts locally at a good price. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Genadi requested a loan from Credo to start-up a family business. Genadi has now been approved for a loan within the framework of the new joint initiative between 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, Genadi will purchase a milking cow. After purchasing a milking cow, he will produce cheese to sell. This will increase the income of his family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details

Loan length:

16 months
Disbursed date: June 10, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

16 months
Disbursed date: June 10, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo