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Natela
Natela is 67 years old and lives in the small village of Vani district. Natela has requested a loan from 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 low income and the family’s poor living conditions.

Natela is actively involved in agricultural activities. In particular, she has a plot of land where nut trees are grown. In addition, she has an agricultural land, where different kinds of vegetables are grown. She sells the harvested products at local markets at a good price. There is hardly enough food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Natela requested a loan from Credo to start up a family business. Natela 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 this credit Natela will purchase a milking cow. After the milking cow is purchased she will be able to produce dairy products for sale. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions for Natela.

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
  • 93
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $675 helped Natela to purchase a milking cow.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 10, 2013
Listed
Jun 22, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014