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Tamaz
Tamaz, age 28, is a tractor driver who lives in the village of Dighomi with his parents, wife, and child. The monthly income he earns is the primary source of income for his family. His father works as an artisan and gets a small monthly salary as well.

As the existing income is not enough for a five-member family, Tamaz has decided to start up a new business, but he does not qualify under existing income requirements. Tamaz 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.

Tamaz will use his loan funds to purchase an asphalt paving machine so that he can earn additional income by laying asphalt on roadways. Tamaz hopes to increase the monthly income of the family with this new business initiative. He is confident that his investment 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
  • 76
    View loans »
    Georgia Loans Fundraising
  • $7,548,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Tamaz to purchase an asphalt paving machine.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 23, 2013
Listed
Jan 29, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014