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Tariel
Tariel is 39 years old. He lives with his wife and two sons in the Mtskheta District of East Georgia. The family runs a small agricultural business. In particular, they have a greenhouse, where tomatoes and cucumbers are grown. The harvested products are sold in the capital city at a good price.

Although both Tariel and his wife work hard, they still live in poverty. Tariel requested a loan to start a dairy farm. His loan request was approved as part of a new joint initiative between Kiva and Credo. The start-up loan program provides loans with reasonable terms to start-up businesses. These loans are provided to the country's rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” due to their low incomes.

With this loan, Tariel will purchase calves. The family will raise calves and when the calves become milk cows they will start producing dairy products. Locally, the family will sell produced cheese and other dairy products. The sales will increase the income of the family. The family's living conditions will significantly improve and the family will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 79
    View loans »
    Georgia Loans Fundraising
  • $6,884,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Tariel to purchase calves and start a dairy farm.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 5, 2012
Listed
Dec 10, 2012
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2014