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Khvicha
Khvicha is 36 years old. He is married and lives with his wife in Kvareli District. Khvicha requested a loan for the family business start-up from local financial institutions several times but without any success. His loan requests were rejected each time because of low income and the family’s poor living conditions.

Khvicha is involved in agricultural activities. In particular, he has a vineyard. Besides the agricultural work, he trades in fruits and vegetables with his own minibus. He is able to earn 500 Laris (GEL) per month. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Khvicha requested a loan from Credo to start his family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up 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 credit received, Khvicha will purchase calves, raise them, and then resell them at a higher price. This will increase the income of the family. The new business initiative, financed with this 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
  • 37
    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 Khvicha to purchase calves, raise them, and then resell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 1, 2013
Listed
Mar 4, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014