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Koba
Koba is 35 years old. He lives in the Rustavi District with his wife, 10-year-old son, and parents. Koba requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were rejected every time because of his low income and the family's poor living conditions.

Koba works as a driver at a private company and gets a monthly income. His wife works as a nurse at a local kindergarten. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Koba requested loan from Credo to start up a family business. Koba 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 Koba will purchase a car and serve local people as a taxi driver. He has a rich experience of being a driver and hopes that this will be profitable for his 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
  • 79
    View loans »
    Georgia Loans Fundraising
  • $6,884,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $3,000 helped Koba to purchase a car and serve local people as a taxi driver.
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 22, 2013
Listed
Jun 29, 2013
Currency Exchange Loss:
N/A
Expired:
Jul 29, 2013