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Kakhi
Kakhi lives in the town of Kutaisi. He is 30 years old, married, and lives with his wife and 7-year-old son. Kakhi is, at the moment, unemployed. The only source of income for the family is the small income earned by Kakhi, who is involved in a frits trading business. The family lives in poverty. According to Credo estimations, they belong to the vulnerable poor category.

Kakhi decided to start his business as their existing income isn’t enough for the family and their living conditions are poor. His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provisions of a business start-up and restartup 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, Kakhi will purchase a metal and plastic workshop. He will produce doors and windows and sell them at a good price as demand is high in the region. Kakhi hopes that his new business initiative will be profitable and this will increase the family income. With the increased income, Kakhi will improve his family's living conditions.

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
  • 76
    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 $850 helped Kakhi to purchase metal and plastic workshop.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 29, 2012
Listed
Dec 7, 2012
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2013