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Nino
Nino is 30 years old. She lives in Tsnori District with her 52-year-old mother and retired grandmother. Nino requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is the monthly pension of Nino’s grandmother. 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 frame of a new joint initiative of Kiva and Credo. The start-up loan program envisions provision of business start-up and restart-up credits with soft conditions to country 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 cover the costs of purchasing her stock of basic groceries. She owns a small commercial space where she will start a grocery store. As Nino doesn’t have to pay rent, the business will be more profitable and with the profit she plans to increase the turnover in her trade business gradually. Nino will work hard and she will be able to improve the living conditions for her family. With this loan, her family will generate enough income to access regular available credit products in the country’s capital market in the event they need them.

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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Nino to purchase her stock of basic groceries to open a grocery store.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 6, 2013
Listed
Mar 13, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015