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Tamaz
Tamaz is 44 years old. He lives in the capital city of Georgia, Tbilisi, with his 28-year-old wife, Lusiana. Tamaz requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

Tamaz’s wife, Lusiana, is working at the local shop as a seller, and she earns a small daily income. This is the only source of income for the family now.

Recently, Tamaz requested a loan from Credo to start up a family business. His 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 credit, with soft conditions, to 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, Tamaz will purchase a car to drive as a taxi. He had a car before, but after an accident it was totally damaged, and he had to stop working. With the new car, he will continue his work and earn additional daily income for the family. With the increased income, Tamaz and his wife will be able to have better 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Tamaz to purchase a car, to drive as a taxi.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 30, 2013
Listed
Apr 6, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014