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Samir
Samir is 30 years old. He lives in Marneuli District with his parents. Samir requested loans from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected because of low income and his family’s poor living conditions.

Samir is requesting a loan from Credo, which he will use to start a family business. 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. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his loan, Samir will purchase a car. He will also purchase stock of groceries and household goods from the wholesalers and transport them by car to sell in nearby villages. He will work hard to earn a good income and help his 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
  • 61
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Samir to purchase a car.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 22, 2013
Listed
May 28, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014