Check out some available loans that are similar to this one!
Roman
Roman is 36 years old. He lives in Senaki District with his 35-year-old wife and 10-year-old daughter. Roman 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.

The family is out of a source of income at the moment.

Roman 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 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 his credit Roman will start trading with fruits and vegetables. He has a car. He will purchase the products at the wholesale price and resell them among the villagers and in the nearby village with a price markup. This will give him an opportunity to earn some income for the family. Roman will reinvest part of the profit. Another part will be used for ensuring a better life for his young daughter. 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

  • $6,100
    Average annual income
  • 73
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Roman to start trading with fruits and vegetables.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 12, 2013
Listed
Jun 21, 2013
Currency Exchange Loss:
N/A
Ended:
May 19, 2014