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Lasha
Lasha is 23 years old. He lives in Rokhi village, Baghdati district, with his 47-year-old father and retired grandparents. Lasha requested a loan 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 his low income and the family’s poor living conditions.

The family has a milk cow and a vineyard. They are milking the cow to make cheese. From the harvested grapes, they are making vodka, and they sell it all locally at the markets to get a small monthly income.

Lasha requested a loan from Credo to start up a family business. His 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, Lasha wants to build a greenhouse. He will purchase all the needed building materials and vegetable seeds (tomato, cucumber and greens). Lasha and his father will cultivate the land and plant the seeds; after the plants have grown, they will harvest the product and sell them locally at the markets. This will significantly increase the family's income, and he will be able to improve the family's 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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Lasha to purchase vegetable seeds and building materials for the greenhouse.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 12, 2013
Listed
Mar 17, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014