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Azer
Azer is 36 years old. He lives in Marneuli District with his 26-year-old wife, Sakhiaba. Azer requested a loan from local financial institutions several times for a family business startup, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

He was trading in fruits and vegetables. He was buying at wholesale prices from the Marneuli market and selling with a price markup locally among his villagers. He was earning a small monthly profit with this business, and it was the only income for the family.

He 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 the 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 Azer will purchase a car. He wants to continue his trading business. He is already very experienced in this field and knows how to satisfy the clients' needs. As he will not have to rent a car, the expenses will be decreased, and he hopes the profit will grow significantly. Part of the profit will be used for reinvesting in the same business, and another part for his family's well being.

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
  • 96
    View loans »
    Georgia Loans Fundraising
  • $7,310,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Azer to buy a car for trading.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 21, 2013
Listed
Mar 30, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2014