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Avtandil
Avtandil is 64 years old. He lives in Ambrolauri District with his wife. Avtandil has requested a loan from local financial institutions several times for a family business startup, but without any success. His loan requests have been rejected each time because of low income and the family’s poor living conditions.

The family's only source of income is from their agricultural activities. They have a cow whose milk is used in cheese production and a vineyard with 300 samples of wine. They sell wine and cheese at local markets. It is hardly enough to provide food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Avtandil has requested a loan from Credo to start up a family business. Avtandil has been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The startup loan program provides startup and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With his credit, Avtandil will purchase a truck and use it for transportation. He will get orders to transport different kinds of goods, and this will increase the monthly income of the family. The new business initiative, financed with the Kiva startup 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
  • 96
    View loans »
    Georgia Loans Fundraising
  • $7,310,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,500 helped Avtandil to buy a truck and use it for transportation.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 17, 2013
Listed
Apr 21, 2013
Currency Exchange Loss:
N/A
Ended:
Nov 17, 2014