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Tamazi
Tamazi, 32 years old, lives in the Kvareli District with his wife, Nato, and his infant daughter. Tamazi has requested a loan from local financial institutions several times for a family business start-up, but has had no success. His loan requests were always rejected because of low income and lack of experience in the new business, requirements usually demanded by local credit providers.

The family's main source of income is Tamazi's small earnings, working as a dentist in the nearby village. The family also owns a vineyard and sells grapes seasonally. Tamazi requested a loan from Credo to re-start the family business. His loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Tamazi will use this loan to purchase 50 sheep. The family will breed sheep and sell cheese and lambs at a good price, thereby increasing their income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the 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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Tamazi to purchase sheep.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Dec 22, 2012
Listed
Dec 26, 2012
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014