Thursday, February 23, 2012

KIVA Loan Thirty-six

Lubomir lives in the village of Gladkovka with his wife and daughter. In his greenhouses, he grows early-season vegetables for sale. On 1 hectare of land, he annually grows 8,000 tomato plants, 2,000 cucumber plants, and 10 tonnes of potatoes. Lubomir has been a farmer for four years. His working capital totals about $10,000, while his take-home profit is approximately $650.

Lubomir needed a loan of $2,500 in order to purchase seeds, fertilizer, firewood and plastic film.

These additional funds are needed to perform timely maintenance on the greenhouses and to prepare properly for the spring season, so as to produce a good harvest.

Together several KIVA lenders loaned him the $2,500 he needed and now this obviously very hard working man can get on with his spring work.

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