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Dimitri
Dimitri is 42 years old. He lives in Telavi District, East Georgia with his mother who is provided with a retirement pension. Dimitri has requested a loan from local financial institutions several times for an agricultural business start-up, but without any success. His loan request was always rejected, because of low income and the lack of experience in his new business, which is usually demanded by local credit providers.

Dimitri has a vineyard and a plot of land where he grows maize. He does all relevant agricultural work to ensure a good quality harvest. The harvested products are sold locally. He also has six pigs and a milk cow, whose milk is used in dairy products.

Dimitri is requesting a loan for the start-up of an agricultural business. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, as they are regarded as “high risk borrowers” because of their low income. With the loan, Dimitri will purchase a tractor. He will perform agricultural work with the tractor on the lands of nearby farmers, mainly on tilling and sowing seasons and will be paid by landlords. It will significantly increase the income of the family and Dimitri will be able to provide better living conditions for 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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,200 helped Dimitri to purchase a tractor.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 27, 2012
Listed
Dec 4, 2012
Currency Exchange Loss:
N/A
Ended:
Nov 18, 2013