Check out some available loans that are similar to this one!
Zurab
Zurab is 42 years old. He lives in a small village, Tsereteli, in Marneuli district, with his 41-year-old wife, Tsiala, and two sons. Zurab requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

Zurab is an artisan. He is working on construction for private orders. Zurab earns a small monthly salary, which is the only source of the income for the family.

Zurab requested a loan from Credo to start up a family business. He 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-start-up 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, Zurab will purchase a milk cow. Zurab’s wife, Tsiala, will be milking the cow every day to produce dairy products. The family will be selling the products at the local market and among the villagers to earn additional income.

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.

Tags

About Georgia

  • $4,600
    Average annual income
  • 78
    View loans »
    Georgia Loans Fundraising
  • $6,859,275
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
Expired
A loan of $1,650 helped Zurab to purchase a milk cow.
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 4, 2013
Currency Exchange Loss:
Possible
Expired:
Jul 4, 2013