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Teimuraz
Teimuraz is 44 years old and lives in the Kutaisi district with his mother-in-law and daughter. Teimuraz is a partner in the business Limited Company, which imports cars from abroad. He has decided to start a new business with his partner to supplement his income but he lacks experience with new business start-ups and does not qualify under income requirements.
Teimuraz is requesting a loan under the framework of a new joint initiative between Kiva and Credo. This loan program envisions providing start-up and re-startup credits with soft conditions to the rural poor, who do not have access to many credit products as they are regarded as “high risk borrowers” because of low income.
Teimuraz will use his loan to start a car wash. He hired the commercial space and will purchase essential equipment and a vacuum cleaner. Teimuraz will provide services to his local community members and hopes to increase the monthly income of the family. His new business initiative will significantly improve the living conditions of his 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
  • 105
    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 $5,000 helped Teimuraz to start up a car wash.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2013
Listed
Jan 23, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2014