Check out some available loans that are similar to this one!
Marina
Marina is 52 years old. She lives in a small village of Kaspi District, with her parents-in-law, who are provided with a retirement pension. Marina requested a loan 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 family’s poor living conditions.

Marina works as a cooker, at a local poultry factory. The job pays totally 300 Laris per month. It is hardly enough to buy food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Now, Marina has requested a loan from Credo, to start up a family business. Marina has 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 restart-up credits, with soft conditions, to rural poor people who do not have access to other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With this credit, Marina will purchase two milking cows. After purchasing milking cows, she will produce cheese products and sell them at local markets. This will increase the income of her 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
  • 88
    View loans »
    Georgia Loans Fundraising
  • $7,202,675
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Marina to purchase two milking cows.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 29, 2013
Listed
May 31, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014