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Kakhaber
Kakhaber is 39 years old. He lives in the Zestafoni District with his 33-year-old wife Indira and son who is attending school. Kakhaber requested a loan from the local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of his low income and the family’s poor living conditions.

The only source of income for the family is the small monthly salary of Kakhaber’s wife Indira. She is working in a local shop as a seller. According to Credo estimations the family belongs to the subsistence poor category.

Kakhaber requested a loan from Credo to start up a family business. His loan request was approved under the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the 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, Kakhaber will purchase a mini-bus. He will be driving himself and serve the local people by transporting them from their district to different villages. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of his family and Kakhaber will be able to provide a better future for his son.

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
  • 107
    View loans »
    Georgia Loans Fundraising
  • $7,217,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Kakhaber to purchase a mini-bus.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2013
Listed
Mar 6, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013