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Liana
Liana is 51 years old. She lives in Batumi District with her 22 and 25 year old sons. Liana has requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions.

The family currently has no source of income. According to Credo estimations, the family belongs to the subsistence poor category.

Liana has 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 the 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 their low income.

With the credit received from Credo, Liana will open a grocery store. She will purchase grocery stocks and will work hard with her sons 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
  • 85
    View loans »
    Georgia Loans Fundraising
  • $7,692,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Liana to open a grocery store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2013
Listed
Mar 19, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2013