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Imeda
Imeda, 37 years old, is from Gardabani district. Imeda requested a loan from the local financial institutions several times to start a family business, but without any success. His loan request was rejected all the time, because of his low income and his family’s poor living conditions.

The only source of income for Imeda is working as a guard in a private company. It is hardly enough for food. According to Credo estimations, the family belongs to the subsistence poor category.

Imeda requested a loan from Credo to start a family business. His loan request was approved in the frame of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the loan, Imeda will purchase sheep. After purchasing the sheep, he plans to expand the number of livestock and increase his income. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions for Imeda.

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
  • 80
    View loans »
    Georgia Loans Fundraising
  • $6,876,175
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Imeda to purchase sheep.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 31, 2012
Listed
Jan 4, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014