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Lana
Lana is 31 years old. She lives in the small village of Ozurgeti District with her husband, parents, sister and her infant daughter. Lana requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected because of low income and her family’s poor living conditions.

The only source of income for the family is her father, who works as an artisan on private orders. It is hardly enough for food, as the income is not stable. According to Credo estimations, the family belongs to the subsistence poor category.

Lana requested a loan from Credo to start a family business. Lana has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program provides 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 his credit, Lana will purchase a stock of groceries and resell at higher prices. She has no experience in this field, but she is very motivated to work hard for a better future. Lana hopes that her business will be successful, as she feels the whole family standing by her. 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

  • $4,600
    Average annual income
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,020,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Lana to purchase a stock of groceries to sell.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 21, 2013
Listed
Jun 3, 2013
Currency Exchange Loss:
N/A
Ended:
Oct 17, 2014