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Ramin
Ramin is 26 years old. He is unmarried and lives in Batumi city with his parents. Ramin’s mother is a teacher at the public school and his father is involved in a meat-trading business.

The main income for Ramin is his newly-started grocery store, selling different types of groceries. As he has recently opened it, the store needs more support to further develop. Ramin’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions to the rural poor who do not have access to credit products since they are regarded as “high-risk borrowers” because of their low income.

With the received credit, Ramin will cover the costs of purchasing needed stock of basic groceries that customers often request. He plans to increase the turnover in his trade business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Ramin will work hard, and he will be able to improve the living conditions for his family. With this loan, his family will generate enough income to access regular available credit products in the country’s capital market in the event that they need it.

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
  • 98
    View loans »
    Georgia Loans Fundraising
  • $7,324,475
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Ramin to purchase stocks of groceries for his newly-started store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 22, 2013
Listed
Mar 4, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2014