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Lali
Lali lives in the Senaki District. She is 33 years old and lives with her husband, child and mother. Lali and her mother work at the local school as teachers and get small monthly salaries.

Several times, Lali has requested loans from local credit providers for a family business start up, but her loan requests were always rejected because of the lack of experience in new business. Her current loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of credit on soft conditions to business start-ups and re-startups for the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Lali will start up a fast-food café. She will bake cakes and pies and sell them among the local people. She will pay for inventories such as tables, chairs and a lunch counter. Lali hopes her business will be profitable and that she will attract many customers since there is no similar café nearby. The profit will be reinvested in the same business and Lali will be able to improve the living conditions of her family.

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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,155,125
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Lali purchase inventories for her cafe.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 11, 2013
Listed
Jan 15, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014