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Izolda
Izolda is 60 years old. She lives in Khoni District with husband Soso and son-in-law. Izolda is provided with a retirement pension. Izolda requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions.

The only source of the income for the family is from the agricultural activities. In particular, they have three milk cows, whose milk is used in cheese production. Izolda sells produced cheese locally at a good price. Besides, Izolda has 35 hens and sells eggs locally but that is hardly enough for food for a three-member family. According to Credo estimations, the family belongs to the subsistence poor category.

Izolda requested a loan from Credo to start up a family business. Her loan request was approved in the framewiork of a new joint initiative of Kiva and Credo. This start-up loan program envisages 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 their low income. With the received credit, Izolda will purchase piglets. After purchasing piglets, she will raise them and expand their livestock. That 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
  • 47
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Izolda to purchase piglets, raise them and expand their livestock.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 4, 2012
Listed
Dec 4, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014