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Liana
Liana is 49 years old. She lives in the small village of Gardabani District with her parents and 2 daughters. Her parents are provided with a retirement pension and her daughters go to school. Liana requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time, because of her low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural activities. In particular, they have a milk cow, whose milk is used in dairy products. In addition, they have 50 sheep and sell lambs locally. Liana also works as a pharmacist at local chemistry shop, but her income is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Liana requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. Start-up loan program envisages provisioning business start-ups and re-startups with credit on soft conditions to the country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Liana will start up her own pharmacy. As she has a rich experience in this field, she hopes this project will be profitable and increase the income of her 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

  • $6,100
    Average annual income
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Liana to open a pharmacy.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 8, 2013
Listed
Feb 9, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2014