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Nino
Nino is 52 years old. She lives in the small village of Gurjaani District in the Kakheti Region with her husband, son, daughter-in-law and father-in-law. Nino requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

Nino’s father-in-law is provided with a retirement pension. The family is involved in agricultural activities. In particular, they have a vineyard. They pick grapes seasonally and sell locally at a good price. In addition, Nino works as a nurse at a kindergarten locally and has a small monthly salary. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Nino requested a loan from Credo to start-up a family business. Nino 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 Nino will begin trade with fruits and dairy products. She will purchase these products at wholesale prices and then resell with a price markup. 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $7,134,975
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Nino to begin trade with fruits and dairy products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 27, 2013
Listed
May 31, 2013
Currency Exchange Loss:
Possible
Ended:
May 18, 2014