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Rapik
Rapik, 28 years old, lives with his wife and parents in Dmanisi District. His parents receive a retirement pension. Rapik requested loans from local financial institutions several times to start a new family business, but without success. His requests were consistently rejected due to low income and the family’s poor living conditions.



The only source of income for the family is their agricultural activities. They sell sheep locally and currently have a flock of 35. They also grow potatoes and maize on a plot of land they own, selling them locally at a good price.



Rapik requested a loan from Credo to start a family business that entails purchasing calves to raise and eventually sell. This will improve both the income and living conditions of the family His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business startup 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.

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
  • 109
    View loans »
    Georgia Loans Fundraising
  • $7,351,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Rapik to purchase calves to raise and sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 6, 2013
Listed
Mar 13, 2013
Currency Exchange Loss:
N/A
Ended:
May 17, 2013