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Anna
Anna is 24 years old. She lives in the capital city of Georgia, Tbilisi with her 36-year-old husband. Anna 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.

Anna has her own business. She is trading second-hand clothes. She is renting a small commercial space, purchases clothes at a wholesale price and sells them from her shop with a price mark-up to earn a small monthly income.

Anna requested a loan from Credo to start-up a family business. Anna 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-start-up 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 her credit Anna will purchase a stock of second hand clothes for her shop. She wants to expand the business and have a better choice to offer to the clients. As Anna is already experienced in this field, she knows what type of clothes to buy and what is more consumable. This will increase the numbers of clients and sales so Anna will have more profit. Part of the profit she will use for reinvesting in her business and another part for covering the family's monthly expenses. 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,148,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Anna to purchase a stock of second hand clothes for her shop.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 19, 2013
Listed
Apr 27, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014