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Manana
Manana is 51 years old. She lives in the small village of the Sachkhere district with husband and two sons.

Manana has 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.

Manana’s husband and son are working as truck drivers and get a small monthly income. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Manana requested a loan from Credo to start a family business. Her loan request was approved in the frames of new joint initiative of 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, who do not have access to credit products, being regarded as high risk borrowers because of low income.

With the received credit, Manana will purchase a milking cow and sheep. After purchasing the livestock, Manana will be able to produce dairy products for selling. This will 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
  • 104
    View loans »
    Georgia Loans Fundraising
  • $7,324,475
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Manana to purchase a milking cow and sheep.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 21, 2013
Listed
Apr 4, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013