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Nato
Nato is 34 years old and from a small village of Sachkhere district. She is married and lives with her husband, two sons (6 and 8 years old) and father-in-law, who is provided with a retirement pension.

Nato 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 from agricultural activities. In particular, they have a vineyard with 600 samples of grape vines. They harvest the grapes and produce vodka for selling locally at a good price. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nato 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-start-up credits with soft conditions to the country’s rural poor. These rural poor do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Nato will purchase a milking cow. After purchasing a milking cow, Nato will produce dairy products. She will sell the dairy products at local markets, which will 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

  • $4,600
    Average annual income
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Nato to purchase a milking cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 7, 2013
Listed
Mar 19, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014