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Sveta
Sveta is 42 years old and lives in Marneuli District with her 14-year-old daughter. Sveta requested loans from local financial institutions several times for a family business start-up but without any success. Her loan request was rejected each time because of low income and family’s poor living conditions.

Sveta has no source of income. According to Credo estimations the family belongs to the subsistence poor category.

Sveta requested a loan from Credo to start up a family business. Sveta 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 this credit, Sveta will purchase clothing and bed linens to resell. She plans to go to Turkey and purchase clothing and bed linens at wholesale prices and then resell among her villagers. She has no experience but is a very hard-working woman and will do her best to earn money. 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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Sveta to purchase clothing and bed linens for resale.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 27, 2013
Listed
May 28, 2013
Currency Exchange Loss:
N/A
Ended:
Jan 18, 2014