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Tsiala
Tsiala is 47 years old and lives in Batumi city with her husband. She owns a two-story house in the city center and rents out the first floor. The rent and her husband's pension are their only sources of income. Tsiala wants to supplement her family's income by renovating a room on the second floor of her house so she can rent it out. Several people have already expressed an interest in living there, but she has been unable to get a loan to pay for renovations from several local financial institutions. That is why she is requesting a loan from Kiva and Credo, which help people who do not qualify for conventional loans. She will use the loan to buy the materials she needs to renovate her house. Tsiala hopes that renting out this room will be profitable and increase her income so that she and her family can improve their standard of living.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Georgia

  • $4,600
    Average annual income
  • 93
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Tsiala to renovate a room so that it can be rented out.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 24, 2012
Listed
Nov 30, 2012
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2015