Check out some available loans that are similar to this one!
Parukh
Parukh lives in the small village of Bonisi District. He is married and lives with his wife Samira and mother. Samira is a housewife. Parukh is at the moment unemployed. The only source of income for the family is the monthly pension of Parukh’s mother and a small income from a family owned dairy farm of two milk cows, whose milk is used in dairy products that are sold locally.

Parukh requested credit to start his own business and increase the monthly income for his family. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restartup 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 Parukh will purchase a mini-bus, which will be used for selling fruits and vegetables. He will purchase products from farmers at wholesale prices and sell them in nearby towns for a higher price. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market, if needed.

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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,700 helped Parukh to purchase a mini-bus for trade business (fruits & vegetables).
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Nov 17, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 20, 2013