A loan of $1,225 helped to purchase a stock of nuts to sell.


Shota's story

Shota is 60 years old. He is married, and lives with his wife and mother in the small village of Chokhatauri district. His mother is provided with a retirement pension. As his wife has health problems, she gets small monthly pension from government institutions, which is hardly enough for medicines. Shota is actively involved in agricultural activities. Specifically, he has two milk cows and a calf. In addition, he has a plot of agricultural land, where maize and nut trees are grown. He cultivates the land and does all the agricultural work to ensure a good harvest. The harvested products are sold at local markets. As the existing income is not enough for the family, he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Shota 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, permitting the rural poor to start or re-start businesses. A loan of 2,000 GEL will help Shota start his own business. He plans to purchase nuts, and then sell them at a higher price. This will increase the income of his family and increase his stablity. With the support of the Start Up program, Shota will get an opportunity to be involved in his own business and tackle the financial difficulties.



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Loan details