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Nargizi
Nargizi is 35 years old. She lives in Mtskheta District with her husband and 2 children. Nargizi requested a loan from the local financial institutions several times, for the family business start-up, but without any success. Her loan request was rejected all the time, because of low income and her family’s poor living conditions.

The only source of the income for the family is Nargizi’s salary working as a teacher at a local school. She makes totally 320 Laris per month. It is hardly enough for food for the family. According to Credo estimations the family belongs to the poor subsistence category.

Nargizi requested a loan from Credo to start-up the family business. Her loan request was approved by the new joint initiative of Kiva and Credo. The start-up loan program provides start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, and are regarded as “high risk borrowers” because of low income. With the received credit Nargizi will purchase calves. After purchasing calves they will raise them and produce dairy products. 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
  • 94
    View loans »
    Georgia Loans Fundraising
  • $7,285,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Nargizi to purchase calves.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 17, 2013
Listed
Feb 6, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014