Check out some available loans that are similar to this one!
Elga
Thirty-four-year-old Elga lives in Chokhatauri district with her 37-year-old husband Avtandil. Elga requested a loan from the 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 her low income and her family’s poor living conditions.

Elga is a dentist. She has a dental chair in her house and earns a small monthly income, which is the only source of living for the family. Elga requested a loan from Credo to start a family business. Elga 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 her credit, Elga will purchase additional dental equipment. With more equipment, she will be able to offer better services to her clients. Elga is already well known among the villagers and she has a good numbers of clients. With the better service, Elga will increase the number of clients and her family 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.

About Georgia

  • $4,600
    Average annual income
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,548,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Elga to purchase additional dental equipment.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 14, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014