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Dimitri
Dimitri is 33 years old. He lives in the small village of Zestaponi District with his wife, two children, and parents. Several times, Dimitri requested 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 his family’s poor living conditions.

Dimitri works as a guard at local private company and gets a monthly income. In addition, the family has a dairy business. In particular, they have two milk cows and they produce cheese products to sell at local markets. The income is too small and is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Dimitri requested a loan from Credo to start-up a family business. His loan request was approved in the framework of a 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 for 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, Dimitri will purchase chicks, raise them, and then resell them at a higher price. This will 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

  • $6,100
    Average annual income
  • 75
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $250 helped Dimitri to purchase chicks, to raise and resell at a higher price.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 26, 2013
Listed
Mar 6, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014