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Vladimer
Vladimer is 65 years old. He lives in Tbilisi, the capital city of Georgia, with his wife, daughter and son-in-law. Vladimer 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.

Vladimer works as a driver on the minibus line and gets a monthly income. His wife is a teacher at a local school. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Vladimer requested loan from Credo to start up a family business. Vladimer 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 Vladimer will purchase milking cows and hens. As he has a house in the Martkopi district, he has decided to begin an agricultural business there. After purchasing cows and hens, he will begin a husbandry business. In particular, he will sell dairy products and eggs. The income will be reinvested in the business, which will be expanded in the future. 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.

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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 $3,000 helped Vladimer to purchase milking cows and hens.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 20, 2013
Listed
Jun 29, 2013
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2015