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Robert
Robert is 45 years old. He lives in the small village of Baghdati District with his pensioner parents, wife and daughter. Robert 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 his low income and his family’s poor living conditions.

His family is involved in agricultural activities. In particular, they have three milking cows, whose milk is used in cheese products. In addition, they have a vineyard. They pick grapes seasonally and produce wine for selling. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Robert requested a loan from Credo to start-up a family business. Robert 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, Robert will build a greenhouse. After the greenhouse is built, they will be able to sow different kinds of vegetables there to sell. This will increase the income of their 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.

About Georgia

  • $4,600
    Average annual income
  • 96
    View loans »
    Georgia Loans Fundraising
  • $7,375,700
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Robert to build a greenhouse.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 12, 2013
Listed
Jun 21, 2013
Currency Exchange Loss:
N/A
Ended:
Mar 19, 2015