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Seidasad
Seidasad is 53 years old. He lives in Ganjala village, Lagodekhi district, with his 48-year-old wife, Shapika. Seidasad 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.

The family runs an agricultural business. In particular, they have a greenhouse. Seidasad cultivates the land and plants vegetables and greens. The harvested products are sold locally at the markets, and the family gets a small monthly income which is rarely enough to cover their daily expenses.

Seidasad requested a loan from Credo to start up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up 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, Seidasad will purchase calves. He will grow them and later sell them at a profit. He will use part of the profit for reinvesting and developing their farming business and another part for providing better living conditions for him and his wife.

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
  • 48
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Seidasad to purchase calves, grow them, and later sell them at a profit.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Apr 3, 2013
Listed
Apr 9, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2013