Check out some available loans that are similar to this one!
Adam
Adam is 30 years old. He lives in a small village near the capital city of Georgia with his parents and sister. Adam requested a loan from local financial institutions several times for his family's business start-up but without any success. His loan requests were rejected because of his low income and his family’s poor living conditions.

Adam’s sister works as a teacher at a local school and his mother works as a baker, each generating a small monthly income. Adam has a tractor which he rents out as well. However, their incomes are hardly enough for food for the family. According to Credo estimations, the family is categorized as subsistence poor.

Adam requested a loan from Credo to start a family business. Adam 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 providing 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 Adam will pay a toll for another tractor. After the toll is paid, he will renovate it and rent it out to 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

  • $6,100
    Average annual income
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Adam to pay the toll for a tractor.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2013
Listed
May 11, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2013