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Ramin
Ramin is 21 years old. He lives in Khulo District with his wife Natia and his parents. Ramin requested a loan 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 his low income and the family’s poor living conditions.

The family owns a plot of agricultural land where fruits and vegetables are grown. They also have a milk cow which is milked to make cheese. Harvested products and the cheese are sold locally at the markets and family gets a small monthly income.

Ramin requested loan from Credo to start-up a family business. His 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 country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit Ramin will open a café. He already has rented a place and now he needs to purchase the entire inventory that he needs. The place he rented is in a crowded area so Ramin hopes he will have a lot of clients and earn a good monthly income. With the profit he will improve the conditions of his café. An increased monthly income will give Ramin a chance to provide better living conditions for 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Ramin to purchase the entire inventory needed for opening a cafe.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 16, 2013
Listed
Mar 24, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015