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Ana
Ana is 21 years old. She lives in the Rustavi district of Georgia with her parents, sister and retired grandfather. Ana requested a loan from local financial institutions several times for a family business start-up, but did not have any success. Her loan request was rejected because of her low income and her family’s poor living conditions.

Ana is a teacher of Microsoft Office programs. She is giving private lessons and earns a small monthly salary. Her father is working on a mini bus-line and her sister is video operator. Their family also receives additional income from Ana’s grandfather’s monthly pension.

Ana requested a loan from Credo to start-up a business. Ana has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program provides 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 incomes. With her credit Ana will rent a commercial space and purchase all the needed equipment to open a Microsoft Office learning center. As Ana will have a bigger space and more computers she will be able to give group lessons and have more students. She is already well known in this field in her district, so her business will be successful. This will significantly increase her income. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of her 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
  • 75
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,800 helped Ana to rent space and open a Microsoft Office learning center.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 25, 2013
Listed
May 11, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 19, 2015