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Luiza
Luiza is 49 years old. She lives in the Rusvati district with her husband and her daughter.

Luiza has requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected all the time because of her low income and the family’s poor living conditions.

According to Credo estimations, the family belongs to the subsistence poor category.

Luiza requested a loan from Credo to start a family business. Her 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 the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low incomes.

With the received credit, Luiza will start a dental clinic locally. She will purchase dental equipment and operative supplies to satisfy the professional needs of the dentists that will be working at her clinic. Luiza hopes her business will be profitable because of the price range and well qualified dentists. This will increase her income and her family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

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
  • $7,799,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Luiza to open a dental clinic.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 4, 2013
Listed
Feb 7, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2014