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

Nino trades with meat at the local bazaar. Her husband works as a butcher. 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. She 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 the 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 her credit Nino will build a greenhouse. After the greenhouse is built they will be able to grow vegetables there and sell them at a good price. This will increase the income of their family. This 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

  • $6,100
    Average annual income
  • 88
    View loans »
    Georgia Loans Fundraising
  • $7,706,100
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Nino to build a greenhouse.
98% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 5, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2015