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Natia
Natia is 33 years old. She lives in the small village of Lanchkhuti District with her husband, 11-year-old son and pensioner father-in-law. Natia 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 her low income and the family’s poor living conditions.

Natia runs a pharmacy in her village. This is the only source of income for her family. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Natia requested a loan from Credo to startup a family business. Natia 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 the received credit, Natia will purchase a stock of additional products such as hygiene items and baby food. As the pharmacy is expanded, the income is increased. Part of the profit will be reinvested in the same business. With another part, she will be able to provide wellbeing for her family members. 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

  • $4,600
    Average annual income
  • 77
    View loans »
    Georgia Loans Fundraising
  • $7,548,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Natia to purchase additional products and expand the pharmacy.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 15, 2013
Listed
Jun 29, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2014