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Anatoli
Anatoli is 44 years old and lives in the Kutisi district with his wife and 23-year-old daughter. The only source of income for the family is the small salary earned by Anatoli’s daughter working as a saleslady at the electronic store. Anatoli used to have an auto body repair but the business stopped because of financial problems. According to Credo estimates, the family belongs to the subsistence poor category.

Anatoli 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. Anatoli 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-start-up 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.

Anatoli will use his loan to re-start a tin auto body repair. He will renovate the workshop where he will set up the auto repair. Anatoli 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

  • $6,100
    Average annual income
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,812,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Anatoli to renovate the workshop and set up an auto repair.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2012
Listed
Dec 3, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2014