Funded

Total loan: $5,000
Powered by 154 lenders

Merab

Georgia
Kvitiri, Georgia / Agriculture

A loan of $5,000 helped to build a greenhouse.


Merab's story

Merab is a 52-year-old married man from a small village in Tskaltubo district. His wife Darejan lives abroad. Merab is a very hardworking man and is actively involved in agricultural activities. He has three milking cows, whose milk is used in making cheese products. Merab sells cheese at a good price at local markets. The income is hardly enough to cover everyday costs, so he decided to apply for a loan and start new business. All the financial institutions rejected his loan applications because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Merab applied for the credit to MFO Credo. His request was approved in the framework of the Start-Up Program, which is a joint initiative with Kiva, which permits the rural poor to start up or re-start businesses. With a loan of $5,000, Merab will build a greenhouse. As the greenhouse is built, he will be able to sow various kinds of vegetables. With this financial support, Merab will be able generate more income and improve his living conditions, and to expand the business in the future.



Loan details

Loan length:

26 months
Repayment schedule: Irregularly
Disbursed date: July 9, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo

Lenders and lending teams




Loan details

Loan length:

26 months
Repayment schedule: Irregularly
Disbursed date: July 9, 2013
Facilitated by Field Partner: LLC Micro Finance Organization Credo