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Oneza
Oneza is 62 years old. He lives in a small village in the Akhmeta District with his wife and two children. Oneza requested a loan from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected each time, because of low income and his family’s poor living conditions.

Oneza has a grocery shop and works with his wife there. Additionally, he has 2 calves and after they are grown his wife will produce dairy products to sell.

Oneza 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 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, Oneza will purchase a stock of groceries for his grocery shop. After the stock is purchased, he will be able to offer his clients more assortments of products and thus increase his sales, which will increase the income of his family. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of his 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
  • 57
    View loans »
    Georgia Loans Fundraising
  • $7,088,700
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Oneza to purchase a stock of groceries.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2013
Listed
May 11, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2014