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Marine
Marine is 54 years old. She lives in Tkibuli District. Marine requested a loan from local financial institutions several times for a business start-up, but without any success. Her loan request was rejected all the time, because of low income and poor living conditions.

Marine works as a housekeeper and gets a small monthly income.

Recently, Marine requested a loan from Credo to start up a business. Her loan request was approved, in the frame of a new joint initiative of Kiva and Credo. The Start-up loan program envisages provision of business start-up and restart-up credits, with soft conditions, to rural poor people, who do not have access to other credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Marine will begin to trade in clothing. She plans to purchase clothing from the wholesalers and then resell at higher prices. This will increase her income, and Marine will be able to improve her living conditions.

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
  • 45
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Marine to begin a new business, selling clothing.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 28, 2013
Listed
Apr 3, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015