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Marina
Marina is 52 years old. She is a widow and lives alone in Sighnaghi District. The only source of income for Marina is her small monthly salary, working as a servant-maid in a family.

As her income is not enough for everyday expenses and food, Marina decided to start a new business. She has requested a loan from local financial institutions several times for the business start-up, but without any success. Her loan request was always rejected, due to lack of experience in a new business and her low income. Experience is usually demanded by local credit providers.

Her loan request was approved under a new joint initiative between Kiva and Credo. The start-up loan program envisions providing business start-up and re-startup credits with easier conditions for the country's rural poor, who do not have access to credit products and are regarded as “high risk borrowers” because of low income.

With the received credit, Marina will purchase used clothing and sell it from her house among her neighbors. She will begin her entrepreneurial activity with a wide assortment of merchandise and high sales volume. This will increase her income. She wants to develop her business further and reinvest the increased income in her business. The new business initiative financed with the Kiva start-up loan will significantly improve her living conditions. She is grateful in advance for your support.

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
  • 94
    View loans »
    Georgia Loans Fundraising
  • $7,206,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $300 helped Marina to purchase used clothing and start up a retail business.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 22, 2012
Listed
Nov 28, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2013