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Avtandil
Avtandil is 52 years old. He lives in Vani District with his 50-year-old wife Nato, his retired mother and three grown up children. Avtandil requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The main source of income for the family is from agricultural activities. They have a milk cow and a pig. Also they own a plot of land where nut trees and greens are grown. With the milk they make cheese and sell it together with the harvested products locally at the markets.

Avtandil requested a loan from Credo to start up a family business. His loan request was approved within 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 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 Avtandil will purchase a mini-bus. He will work on private orders and transport cargoes throughout his district. With the profit he plans to renovate his house so his family can have better 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

  • $6,100
    Average annual income
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Avtandil to purchase a mini-bus to work on private orders and transport cargoes.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 6, 2013
Listed
Mar 21, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014