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Jumber
Jumber is 58 years old and lives in the small village of Tamariani with his wife. The family runs an agricultural business and cultivates family-owned land growing eggplant, cucumbers and maize. The harvested products are sold at the local open market. Jumber also runs a small chemist’s shop and has a monthly income. Several times, he has asked for loans from local financial institutions to start his new business but without success. His loan requests were rejected each time because of income requirements and a lack of experience in new business, which is usually demanded by local credit providers.
Jumber’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit. The program extends soft conditions to the rural poor who do not have access to credit products. They are regarded as “high-risk borrowers” because of their low income. With the received credit, Jumber will cover the costs of purchasing his stock of basic groceries for starting a grocery store. He plans to increase the turnover in his trade business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Jumber will work hard and he will be able to improve the living conditions for his family. With this loan, his family will generate enough income to access regular available credit products in the country’s capital market, in the event they need it.

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
  • 95
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Jumber to purchase stock for starting a grocery store.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2012
Listed
Nov 26, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2013