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Inesa
Inesa is 23 years old. She lives with her parents and grandmother in Batumi District. Inesa requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time, because of low income and the family's poor living conditions.

Inesa's father serves local people as a taxi driver and gets a monthly income. Inesa's grandmother is provided with a retirement pension. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Inesa 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 rural poor, who do not have access to credit products, being regarded as "high risk borrowers" because of low income.

With the received credit Inesa will trade with used clothing. She plans to purchase used clothing from the wholesalers and then resell it with a price markup. Inesa has a commercial space, where she plans to open her shop for used clothing. She will work there as a saleslady and will serve her clients. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family and Inesa will be able to increase the income of her 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,134,975
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,700 helped Inesa to start a used clothing store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 19, 2013
Listed
Mar 24, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014