Funded

Total loan: $1,100
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Spartak


A loan of $1,100 helped to purchase calves.


Spartak's story

Spartak is a 28-year-old married man from a small village of Gurjaani district. He lives with his wife, a three-year-old son and mother. His wife stays at home and looks after her son. Spartak works at an auto car wash and gets a small monthly income. His mother works at a bakery.

As the existing income is not enough for a four-member family, he decided to start his own business. All the financial institutions have rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Spartak applied for credit from MFO Credo. His request was approved in the framework of the Start-Up program, which is a joint initiative with Kiva, permitting the rural poor to start or re-start businesses.

With the loan of $1100, Spartak will purchase calves. He will raise them and start a husbandry business. After the calves are raised, the family will start producing dairy products to sell and expand the business in future. With support of the Start-Up program he will get an opportunity to be involved in his own business and tackle the financial difficulties.



Loan details

Loan length:

14 months
Disbursed date: July 2, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams



Loan details

Loan length:

14 months
Disbursed date: July 2, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo