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Ivane
Ivane is 29 years old. He lives in the suburbs of Tbilisi with his family: wife, parents-in-law and sister-in-law. Ivane’s wife is a waitress and his father-in-law serves the locals as a taxi driver. Ivane’s economic activity is his newly-started business. In particular he is a shoe-maker and sews shoes. Ivane requested credit to expand his business. His loan request was approved in the framework of a new joint initiative from Kiva and Credo. The start-up loan program envisages provisioning business start-ups and re-startups with credit on soft conditions to 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, Ivane will purchase leather materials and sew shoes. He will sell his production for a good price and get a profit. The new business initiative will increase the monthly income for the family. Their living conditions will improve and in the future they will have enough income to access regular credit products available on 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
  • 107
    View loans »
    Georgia Loans Fundraising
  • $7,355,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Ivane to purchase leather and sew shoes.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2013
Listed
Jan 22, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014