Check out some available loans that are similar to this one!
Tamazi
Tamazi is 34 years old. He lives with his wife, 2 daughters and mother in Partskhisi District. Tamazi requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and his family’s poor living conditions.

The only source of the income for the family is the small income earned by Tamazi’s mother, working as cook locally. This makes in total 200 Laris per month. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Tamazi requested a loan from Credo for a start-up family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages the 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 Tamazi will trade in clothing and bed-clothes. He plans to purchase clothing and bed-clothes from wholesalers and resell it locally. It will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of the 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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,015,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $650 helped Tamazi to trade in clothing and bed-clothes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 30, 2012
Listed
Dec 4, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2013