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Sarkis
Sarkis is 28 years old. He lives in Kianeti village, Bolnisi District with his 31 year old wife Evgine.

On several occasions, Sarkis requested a loan from local financial institutions for his family business start-up, but was not successful. His loan request was rejected because of his low income and family’s poor living conditions.

Sarkis's family owns a small plot of agricultural land where they grow wheat. The harvested wheat is sold at the local markets. In addition, Sarkis is working as a security guard and gets paid a small monthly salary.

Sarkis requested a loan from Credo for his start-up family business. His loan request was approved by the new joint initiative between Kiva and Credo. The start-up loan program envisages providing credit and soft repayment conditions to the country's rural poor to allow them to fund their start-up businesses. The rural poor do not have access to credit since they are regarded as “high risk borrowers” due to their low income.

Sarkis will use the loan to purchase calves. He will raise the calves and later sell dairy products at the local markets. This will significantly increase his family's income. Sarkis hopes the profit will allow him to provide better living conditions for his wife and himself as well as develop their agricultural business.

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 $625 helped Sarkis to purchase calves to start a dairy business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 15, 2013
Listed
Mar 22, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014