Check out some available loans that are similar to this one!
Eva
Eva is 47 years old. She lives with her husband and two children in Khelvachauri District, West Georgia. Her husband works as an artisan locally and gets a monthly income. Her economic activity is a newly started business. In particular, a grocery store.

Eva requested a loan from local financial institutions several times for further developing her business, but without any success. Her loan request was rejected all the time because of lack of experience in her business, which is usually demanded by local credit providers.

Her loan request was approved within the frames of 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, Eva will cover the costs of purchasing her stock of basic groceries for starting a grocery store. She plans to work hard and increase the turnover in her business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

With this loan, her 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Eva to purchase stock of basic groceries for starting a grocery store.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2012
Listed
Nov 29, 2012
Currency Exchange Loss:
N/A
Ended:
Nov 18, 2013