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Liova
Liova comes from the Akhalkalaki district. He is married and lives with his wife and 28-year-old son. Liova requested a loan from some 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 his family’s poor living conditions.

Liova is a welder. He gets orders and produces different kinds of iron products such as iron doors and ovens. The income from this business is not stable, and it is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Liova requested a loan from Credo to start up a family business. His loan request was approved in the frames of new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, which do not have access to credit products, being regarded as “high-risk borrowers” because of their low income. With the received credit Liova will cultivate a plot of agricultural land, and he will buy fertilizers and potato seeds. After the land is cultivated and fertilized, he will grow potatoes to sell. This 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
  • 90
    View loans »
    Georgia Loans Fundraising
  • $7,568,975
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Liova to cultivate the land and purchase fertilizers and potato seeds.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Mar 12, 2013
Listed
Mar 25, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2014