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Nargiz
Nargiz is 47 years old. She lives in Bolnisi district with her husband and 14 year old son.

Several times, Nargiz requested a loan from local financial institutions for a family business start-up, but without any success. Her loan request was rejected each time because of low income and her family’s poor living conditions.

Her family owns a small plot of agricultural land where maize and haricot are grown. Harvested products are sold at the local markets. Their additional income is from small, monthly salaries. Nargiz is working as a cleaner and her husband as a security guard.

Nargiz requested a loan from Credo to start-up a family business. Nargiz has now been approved for a loan within the framework of the new joint initiative between 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, Nargiz will purchase a car. Her husband will drive it as a taxi to transport local people and the family will increase their monthly 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

  • $6,100
    Average annual income
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,799,500
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Nargiz to purchase a car for her husband to drive as a taxi.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 17, 2013
Listed
Jun 25, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 18, 2014