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Azhdar
Azhdar is 35 years old. He lives in the small village of Bolnisi District with his wife and parents.

Azhdar has requested loans from local financial institutions several times for family business start-ups, but without any success. His loan requests were rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is from their agricultural activities. In particular, they have a plot of land, where haricot and wheat are grown. They sell the harvested products locally at a good price. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Azhdar requested a loan from Credo to start a family business. Azhdar 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 his credit, Azhdar will purchase calves. After purchasing the calves, he will raise them and then resell them at a higher price. This will increase the income of the 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.

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About Georgia

  • $6,100
    Average annual income
  • 84
    View loans »
    Georgia Loans Fundraising
  • $7,692,575
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Azhdar to purchase calves to raise and resell at a higher price.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 13, 2013
Listed
Jun 14, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014