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Gogia
Gogia is 69 years old. He lives alone in the Sagarejo District. Gogia has requested several previous loans from local financial institutions for his family business start-up without any success. His loan request has been rejected many times because of his low income and his family’s poor living conditions. One source of income is his monthly salary working as a watchman, additionally he is provided with a retirement pension.

Gogia is requesting a loan from Credo to start-up his family business. He will use his loan to purchase piglets to start an animal husbandry business. He will put the piglets in a shed in the yard and raise and sell them for a higher price. Gogia's loan request was approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages business start-up and re-startup credits with soft conditions for country rural poor who do not have access to credit products. They are regarded as “high risk borrowers” due to their low income. Gogia's new business initiative, financed with his Kiva start-up loan, will significantly improve his 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

  • $4,600
    Average annual income
  • 112
    View loans »
    Georgia Loans Fundraising
  • $7,351,275
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Gogia to purchase piglets.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Dec 6, 2012
Listed
Jan 4, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2014