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Nino
Nino is 28 years old. She lives in Ozurgeti District with her husband, her two infant children and her parents-in-law. Nino requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan requests were always rejected because of her 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 a vineyard, a plot of land where 400 nut trees are grown and a milk cow. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nino requested a loan from Credo to start up a family business. Her 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 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, Nino will rent a place to open a plastic shop. She plans to purchase stock of plastic dishes to sell in her shop. Nino will work as a saleslady and will do her best to 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Nino to open a plastic shop.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 28, 2013
Listed
Mar 11, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015