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Ramaz
Ramaz is 47 years old. He lives in the small village of Terjola District with his wife, two children, daughter-in-law and an infant grandchild. Ramaz requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have 4 milk cows, whose milk is used in cheese products. Besides, they have a vineyard with 400 grapevines and a hectare plot of land where different kinds of vegetables are grown. They sell the harvested products and cheese locally. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Ramaz requested a loan from Credo to start-up a family business. Ramaz 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 Ramaz will build a greenhouse. After the greenhouse is built, they will grow tomatoes and greens there. They will sell the harvested tomatoes and greens at local markets. This will increase the income of their 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

  • $4,600
    Average annual income
  • 106
    View loans »
    Georgia Loans Fundraising
  • $7,325,800
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,850 helped Ramaz to build a greenhouse and sow tomatoes and greens.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 16, 2013
Listed
May 27, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 19, 2015