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Darejan
Darejan is 29 years old. She lives in Martvili District with her husband, son, and mother-in-law. Darejan requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time, because of her low income and her family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a plot of agricultural land where nut trees grow. They sell the nuts locally at a good price. It is hardly enough food for the family. According to Credo's estimations, the family belongs to the subsistence poor category.

Darejan requested a loan from Credo to start up a family business. Her loan request was approved in the frame of new joint initiative of Kiva and Credo. The start-up loan program provides business start-up and restart-up credits with 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 loan, Darejan will purchase a milk cow. After purchasing a milk cow, she will be able to produce cheese products and sell them locally. This will increase the family's income. The new business initiative, financed with this 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

  • $6,100
    Average annual income
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Darejan to purchase a milk cow.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 31, 2013
Listed
Feb 3, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 18, 2013