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Inga
Inga is 39 years old, married and lives in Kobuleti district with her husband and three children (14, 18 and 21 years old). Her husband works as a salesman and gets a monthly salary. Inga’s economic activity is a newly started small grocery store, where she sells different kinds of groceries. Inga requested a loan from local financial institutions for the business expansion, but without success. Her loan request was rejected because of her low income and insufficient experience in her business.

However, her loan request was approved through a new joint initiative of Kiva and Credo. The program provides start-up and re-startup credits with soft conditions to the country's rural poor. They do not have access to traditional credit products, being regarded as “high-risk borrowers” because of their low income. Inga requested a loan to purchase basic groceries that customers often request. She plans to increase the turnover in her trade business gradually. This will raise the income of the family, which will be used to improve the family’s living conditions. She awaits 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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $6,884,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,200 helped Inga to purchase basic groceries for her grocery store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 26, 2012
Listed
Nov 29, 2012
Currency Exchange Loss:
N/A
Ended:
Dec 20, 2013