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Gocha
Gocha is 46 years old. He lives in a small village of the Khobi District with his wife, two children and his mother, who has a retirement pension. Gocha requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.

The only source of the income for the family is from the agricultural activities. In particular, they have a milking cow, a calf and a plot of agricultural land, where nut trees are grown. They sell the harvested products and dairy products at local markets. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Gocha requested loan from Credo to start-up family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit Gocha will purchase chickens. He plans to raise them and sell them at a higher price. This will increase the income of his family and they will be able to improve their living conditions. Gocha awaits your support.

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
  • 77
    View loans »
    Georgia Loans Fundraising
  • $7,196,525
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Gocha to purchase chickens to raise and sell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 10, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2013