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Ruizan
Ruizan is 55 years old. She lives in a small village in Akhali Samgori, Gardabani district with her husband and son. Ruizan requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions. The family is out of their source of income at the moment.

Ruizan requested a loan from Credo to start-up a family business. Ruizan 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 provisions 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, Ruizan will start trading with clothes. She wants to purchase products at the wholesale price and resell them with the price markup among the villagers to earn some income for the family. Ruizan will work as hard as she can to make her business successful to provide a better life for her husband and son.

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
  • 53
    View loans »
    Georgia Loans Fundraising
  • $7,088,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $900 helped Ruizan to start trading with clothes.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 18, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2014