Check out some available loans that are similar to this one!
George
George is 23 years old. He lives in Chiatura District with his parents. George has requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected all the time because of low income and the family’s poor living conditions.

George is a dentist and he is working in a local clinic where he gets a small monthly salary. His father is retired and gets a pension. Also, his mother is an invalid and gets a small monthly payment from the government. According to Credo estimations, the family belongs to the subsistence poor category.

George requested a loan from Credo to start-up a family business. His loan request was approved in the frames of 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 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, George wants to rent a place to start a dental clinic locally. He will purchase all the needed dental equipment and operative supplies. George hopes his business will be profitable as he already has his clients from the current job. The new business initiative, financed with the Kiva start-up loan will increase his income and his family members will be able to increase their spending to satisfy their daily needs, in order to improve their living conditions.

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
  • 96
    View loans »
    Georgia Loans Fundraising
  • $7,312,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $850 helped George to start a dental clinic locally.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2013
Listed
Mar 9, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015