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Akpar
Akpar is 32 years old. He lives in the small village of Lagodekhi District with his wife and 3 sons. Akpar requested loan from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected, because of low income and family’s poor living conditions.

Akpar trades seasonal fruits and vegetables. He buys a stock of fruits and vegetables from the wholesalers and then sells them locally at a higher price. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Akpar requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Akpar will build a greenhouse. After building a greenhouse, he plans to sow tomatoes and cucumbers. He will sell the harvested products locally at a good price. 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
  • $7,169,700
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Akpar to build a greenhouse to grow tomatoes and cucumbers.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jan 29, 2013
Listed
Jan 31, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 20, 2013