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Tinatin
Tinatin is 32 years old. She lives in Vani District with husband Gia and two children (10 and 2 years old). Tinatin 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 her low income and the family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have a milk cow and a plot of land where nut trees are grown. Tinatin milks the cow to make cheese. Harvested nuts and the cheese are sold locally at the markets. They are refugees, so their additional income is from government institutions.

Tinatin requested a loan from Credo to start a family business. Her loan request was approved in the frames of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Tinatin wants to start trading clothes. She will buy at the wholesale price and resell it in Vani district among the villagers with a price markup. She will be reinvesting the profit to develop the business and earn a good income for her family. The increased income will help her to provide better living conditions for her children.

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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,134,975
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Tinatin to purchase clothes to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 1, 2013
Listed
Apr 9, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013