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Lia
Lia is 31 years old. She lives in a small village in the Gardabani District with her husband and in-laws. Lia requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time because of her low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have two milk cows, whose milk is used in cheese production. Lia produces cheese and sells locally at a good price. Besides, her mother-in-law works as a sales lady at a local grocery shop. It is hardly enough to buy food for the family. According to Credo estimations the family belongs to the subsistence-poor category.

Lia requested a loan from Credo to start a family business. Her loan request was approved. With the credit Lia will sell clothing. She plans to purchase clothing from wholesalers and then resell it at higher prices among her villagers. 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
  • 44
    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 $1,450 helped Lia to sell clothing.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 12, 2013
Listed
Feb 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2014