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Shepik
Shepik, 54, lives in the small village of Khelvachauri district with husband, Guram, two children, and two grandchildren. Shepik requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected each time because of low income and the family’s poor living conditions.

The only source of income for the family is from trading clothing. Shepik purchases clothing from wholesalers and then resells them at a higher price. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Shepik has requested a loan from Credo to start a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor. This population do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Shepik will purchase a car. After purchasing the car, her husband Guram will be able to serve local people as a taxi driver and thus increase the family's income. 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,148,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,000 helped Shepik to purchase a car for her husband to work as a taxi driver.
94% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 27, 2013
Listed
Mar 31, 2013
Currency Exchange Loss:
N/A