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Telman
Telman lives in the Sagarejo District. He is 36 years old and lives with his wife, child, brother, sister and sister-in-law. The family runs an agricultural business. In particular, they have three milk cows whose milk is used in cheese products. In addition, Telman works as an artisan and earns a monthly income. Several times, Telman has requested loans from local credit providers, but his loan requests are always rejected because of the lack of experience in the new business. His current loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the 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, Telman will start a canteen in his village. He will purchase dishes and renovate the space where he will start the business. Telman hopes his business will be profitable and that he will attract many customers since there is no similar canteen nearby. The profit will be reinvested in the same business and Telman will be able to 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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $6,859,275
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Telman to start a canteen.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2013
Listed
Feb 8, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014