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Rashid
Rashid, 40 years old, lives in a small village in the Tetritskaro District with his wife and two children (5 and 22 years old). The family's only source of income is Rashid's monthly salary working locally as a shepherd.

Rashid requested a loan to start up a dairy farm. His loan request was approved in the framework of a new joint initiative through Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup 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.

Rashid will use this loan to purchase a milk cow, which he will place in the old cattle shed located in his yard. Rashid will start the production of cheese and sell it at the local open market. The family's income will increase by 150-200 Laris, a 45–60% increase. The family's living conditions will significantly improve and they 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
  • 98
    View loans »
    Georgia Loans Fundraising
  • $7,365,125
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Rashid to purchase a milk cow.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Dec 31, 2012
Listed
Jan 3, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 20, 2013