Funded

Total loan: $2,425
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Merab


A loan of $2,425 helped to buy chicks and chicken feed.


Merab's story

53-year-old Merab lives in the small village of Zeda Simoneti, which is in the Terjola district, with his 48-year-old wife Madona. Merab has requested a loan from local financial institutions several times to start a family business. However, he has not had any success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The family has two milk cows and two pigs. The cows are milked every day to produce cheese and sell at the local market for a small income. From the pigs, they sell piglets. The family's total income is 280 GEL. This amount is rarely enough to buy food.

Merab has requested a loan from Credo to start a family business. Merab has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program provides business loans 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 incomes.

With his credit, Merab will purchase chicks and chicken feed. He already has cages in which to place them. Merab is a very hardworking man. He wants to expand his agricultural business and increase the family's income. He will raise the chicks and sell them at a higher price. The increased income will give them an opportunity to have access to a better living. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.



Loan details

Loan length:

26 months
Disbursed date: June 17, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

26 months
Disbursed date: June 17, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo