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Koba
Koba is 28 years old. He lives in the small village of Gardabani District with his wife and two daughters (6 and 8 years old). Several times, Koba requested loans from local financial institutions for a family business start-up, but without any success. His loan request was rejected each time because of low income and his family’s poor living conditions.

The only source of the income for the family is a small, monthly income of Koba's. He rents a bakery, where he bakes bread for selling. The income is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Koba requested loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative between Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as 'high risk borrowers' because of low income.

With the received credit, Koba will renovate a space located in his yard and purchase all the needed equipment to start his own bakery. He would not have to pay rent and, thus, the income of the family will increase. 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
  • 95
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Koba to open a bakery on his property.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 28, 2013
Listed
Apr 3, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014