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Tsitsino
Tsitsino lives in Sachkhere District. She is 57 years old and lives with her grown son, daughter-in-law, and a grandchild. The source of income for the family is an agricultural business -- a small dairy farm with a milk cow whose milk is used in cheese products. Some of the produced cheese is sold at the local open market, and the rest is left for the family's consumption.

The total average monthly income is 100 GEL, which is hardly enough for food for a four-member family. Tsitsino and her son decided to start their business as their existing income wasn't enough for the family, and their living conditions are poor. Her loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with easy conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low incomes. With the received credit, Tsitsino will purchase a car, and her son will serve the local people as a taxi driver. The income of the family will increase, and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in 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

  • $6,100
    Average annual income
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,200 helped Tsitsino to purchase a car for her son to use as a taxi.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 15, 2012
Listed
Dec 17, 2012
Currency Exchange Loss:
N/A
Ended:
Jan 17, 2015