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Natela
Natela is 45 years old. She lives in a small village of Kakheti Region with her husband Mamuka and two adult sons (22 and 20 years old). Mamuka and his sons are busy with a family-owned small vineyard. They sell harvested grapes locally. Natela works as a saleslady in a local store. Natela requested loans from local financial institutions several times for agricultural business start-up, but without any success. Her loan request was rejected all the time, because of low income and family’s poor living conditions.

The average monthly income of the family is 200 Laris. It is hardly enough for food for a four-member family. According to Credo estimations the family belongs to the subsistence poor category.

Natela requested a loan from Credo to re-start a livestock farming venture, which was stopped three years ago because lack of turnover funds. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Natela will purchase calves. She will raise them and sell them after several months. Grown calves will be sold with a price mark-up, bringing additional income to the family. For the next cycle, Natela will purchase more calves. The new business initiative, financed with the Kiva Start-up loan will significantly increase the income of the family. Their income will double and the family members will be able to improve their living conditions.

Additional Information

More information about this loan

This loan is part of Credo's startup loan program targeting particularly vulnerable clients who live at the subsistence level and have been unable to obtain credit due to lack of income from an existing business. This program offers them a longer repayment term and an annual interest rate that is 5% lower than the standard interest rate. By funding this loan, you are supporting a program that gives borrowers a second chance to start and grow small businesses. This has the potential to alleviate the effects of poverty, significantly improving borrowers' incomes and their families' quality of life. Learn more about Credo's startup loan program on the Kiva Blog.

About LLC Micro Finance Organization Credo

LLC Credo (Credo) is a microfinance organization in Georgia that provides sustainable credit services to alleviate poverty in rural areas, including business loans, agriculture loans, household loans, crop insurance and more. Kiva lenders’ funds are used to help the organization expand its outreach to even more entrepreneurs, farmers and households in remote areas.

About Georgia

  • $4,600
    Average annual income
  • 54
    View loans »
    Georgia Loans Fundraising
  • $7,169,700
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Natela to purchase calves.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Aug 27, 2012
Listed
Sep 5, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013