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Tamila
Tamila is 29 years old. She lives with her husband in Kutaisi District, West Georgia. Tamila requested a loan from local financial institutions several times for family 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 only source of income for the family is the small income earned by Tamila’s husband, working as cook locally. That makes in total 250 Laris per month. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Tamila requested loan from Credo to start up a family business. 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, Tamila will sell clothing and bed-clothes. She plans to purchase clothing and bed-clothes from wholesalers and resell the goods locally. That will increase the income of the family. 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $900 helped Tamila to sell clothing and bed-clothes.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 21, 2012
Listed
Nov 29, 2012
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2013