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Ramin
Ramin is 36 years old. He lives in the small village of Bolnisi District with his wife, parents, and aunt. Ramin’s parents and aunt are provided with a retirement pension. He requested a loan from the local financial institutions several times for his family business start-up, but without any success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have a plot of land, where cucumbers and tomatoes are grown. They sell the harvested products at local markets. It is hardly enough food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Ramin requested loan from Credo to start a family business. Ramin 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 a provision of business start-up and restart-up credits with soft conditions for 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, Ramin will purchase calves. After purchasing calves, he will raise them and then resell at a higher price. This will increase the income of the family. 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

  • $6,100
    Average annual income
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Ramin to purchase calves and raise and resell them at higher price.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 21, 2013
Listed
May 26, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014