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Telnaz
Telnaz is 43 years old. She lives in the Gardabani District with her daughter. Telnaz has requested a loan from local financial institutions several times for a family start-up business, but without any success. Her loan requests were rejected repeatedly, because of her family's low income and poor living conditions.

Telnaz is involved in agricultural activities. She has a plot of agricultural land, where she grows different kinds of vegetables. She sells the harvested products at local markets. It is hardly enough for food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Telnaz requested a loan from Credo to start a family business. She has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with reasonable conditions for rural poor people, who do not have access to commercial credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With this loan, Telnaz will begin a clothing business. She plans to purchase clothing at wholesale prices and then resell it at higher prices. This will increase her income and she will be able to provide better living conditions for her daughter. 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
  • 94
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,700 helped Telnaz to begin a clothing business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 17, 2013
Listed
Apr 26, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014