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Tina
Tina is 51 years old. She lives in the small village of Baghdati District with her husband, three children and a daughter-in-law. Tina requested a loan from local financial institutions several times for family business startup, but without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

Tina’s son works as a local artisan and gets a small monthly income. Besides that, they are involved in agricultural activities. In particular, they have a pig, three milking cows and a vineyard. They sell the harvested grapes and dairy products at local markets. It is hardly enough on food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Tina requested a loan from Credo to start a family business. Tina has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The startup loan program envisages provision of business startup 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 Tina will build a greenhouse. After the greenhouse is built, she will be able to sow vegetables and sell the harvested vegetables. This will increase the income of their family. The new business initiative, financed with the Kiva startup 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
  • 88
    View loans »
    Georgia Loans Fundraising
  • $7,568,975
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Tina to build a greenhouse and sow vegetables.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 25, 2013
Listed
May 29, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014