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George
George lives in Sighnaghi District, East Georgia, with his wife and 17-year-old son. The family is involved in an agricultural business. George owns a vineyard and a plot of land where he grows peppers. The harvested products are sold at the local open market.

George has requested a loan to start his trading business. His loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up 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.

George will use this loan to purchase a car and to start the business. He will purchase fruits and vegetables from farmers at wholesale prices and sell them in nearby towns. The family's income will increase and they will be able to improve their living conditions. 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

  • $4,600
    Average annual income
  • 94
    View loans »
    Georgia Loans Fundraising
  • $7,374,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped George to purchase a car and to start his business.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 21, 2012
Listed
Dec 26, 2012
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2013