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Sandro
Sandro is 27 years old. He lives with his parents and sister in Telavi District. Several times, Sandro requested a loan from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have seven milk cows and 11 calves. They produce dairy products to sell locally in an open market, at a good price. Sometimes, they slaughter a cow and sell the meat. But, the income is too small and it is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Sandro's loan request was approved in the framework of new joint initiative between 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 low income.

With the received credit, Sandro will purchase calves. After purchasing additional calves, he will be able to expand the cattle herd and increase the income of the 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

  • $4,600
    Average annual income
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,148,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Sandro to purchase calves and expand the cattle herd.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 23, 2013
Listed
Mar 11, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2014