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Nino
Nino is 35 years old. She lives in a small village of Khashuri District with her husband, Mamuka, and three children (8, 11, and 14 years old). Nino requested a loan from local financial institutions several times, for a family business start-up, but without any success. Her loan request was rejected all the time, because of low income and the family’s poor living conditions.

Mamuka works as an artisan. He gets orders and makes wooden furniture. Nino has a poultry business. She purchased chicks to raise, and she plans to sell them in about a month. Nino and Mamuka, together, earn hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Recently, Nino requested a loan from Credo to start up a family 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 Nino will purchase additional chicks and feed for chicks. As she will buy another group of baby chicks, she will sell them after growing them for several months, and thus 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
  • 61
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Nino to purchase chicks, raise them, and resell them for profit.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 27, 2013
Listed
Apr 3, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013