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Marina
Marina is 30 years old. She lives in the Telavi District with her husband, Shalva, her 3-year-old daughter and her mother-in-law. Marina requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of income for the family is a small income of Shalva, taking wood from the forest and selling it in their village. It makes a total of 200 Laris per month. It is hardly enough for food for a four-member family. According to Credo estimations the family belongs to the subsistence poor category.

Marina requested a loan from Credo to re-start-up the family business, which was stopped recently because of financial problems. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the 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 Marina will purchase sheep. The family will breed sheep and sell lambs at a good price. This will increase the family income. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the family.

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

  • $6,100
    Average annual income
  • 72
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Marina to purchase sheep and start an animal husbandry business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Oct 10, 2012
Listed
Oct 16, 2012
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2013