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Vladimer
Vladimer is 41 years old. He lives in a small village of Lagodekhi District with his wife. Vladimer requested a loan for a family business start-up from local financial institutions several times, but without any success. His loan request was rejected every time, because of low income and the family’s poor living conditions.

The only source of income for the family is their agricultural activities. In particular, they have a plot of land, where different kinds of vegetables are grown. They sell the harvested products locally. The income from this is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Vladimer requested a loan from Credo to start up a family business. His loan request was approved, in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credits, with soft conditions, to country rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Vladimer will purchase a car. After purchasing a car he plans to serve local people as a taxi driver. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the 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
  • 52
    View loans »
    Georgia Loans Fundraising
  • $7,088,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Vladimer to purchase a car, for work as a taxi driver.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Jan 22, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2014