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Gocha
Gocha, 54 years old, lives in a small village in the Sachkere District with his wife, two children, daughter-in-law and mother. Gocha works as a truck driver and earns a small monthly income. His wife works as an accountant, and his mother is provided with a retirement pension. According to Credo estimations the family belongs to the subsistence poor category.



Gocha requested a loan from local financial institutions several times for a family business start-up, but without any success. His requests were consistently rejected because of low income and the family’s poor living conditions.



Gocha's request for a loan from Credo to start a family business was approved within the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-start-up loans 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 loan, Gocha will purchase a pig and a milking cow and start a husbandry business. He will sell piglets in the future. His wife will milk the cow and produce dairy products, which will be sold at local markets. This will increase the family's income. 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
  • 52
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Gocha to purchase a pig and a milking cow to start a husbandry business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 1, 2013
Listed
Apr 20, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014