Check out some available loans that are similar to this one!
George
George is 22 years old and lives in the Telavi district with his wife and child. He earns an income as a taxi driver and provides services to local people. George's income is not enough to provide food for a three-person family and, according to Credo estimates, the family belongs to the subsistence poor category. George has decided to start a new business to supplement his income but his loan requests have been rejected several times by local financial institutions. He lacks experience with new business start-ups and does not qualify under income requirements.

George is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program envisions providing start-up and re-startup credits with soft conditions to the rural poor, who do not have access to many credit products as they are regarded as “high risk borrowers” because of low income. George will use his loan to start a car wash. He will purchase essential equipment and a vacuum cleaner. George will provide services to local community members and hopes to increase the monthly income of the family. His new business initiative will significantly improve the living conditions of his 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

  • $4,600
    Average annual income
  • 77
    View loans »
    Georgia Loans Fundraising
  • $7,193,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,400 helped George to start a car wash and purchase essential equipment and a vacuum cleaner.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2012
Listed
Nov 29, 2012
Currency Exchange Loss:
N/A
Ended:
May 17, 2013