Check out some available loans that are similar to this one!
Temur
Temur is 19 years old. He lives in Khoni District with his wife and grandmother, who is provided with a retirement pension. Temur requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

The family is involved in agricultural activities. In particular, they have a pig and a milking cow, whose milk is used in cheese products. They milk the cow and produce dairy products for selling, which is the only source of income. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Temur requested a loan from Credo to start up a family business. Temur 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-start-up 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, Temur will begin trade with fruits and vegetables. He plans to purchase fruits and vegetables from the wholesalers and then resell at a higher price, which enables him to increase the income.

With increased income, Temur will expand his business 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.

About Georgia

  • $6,100
    Average annual income
  • 76
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Temur to begin trade with fruits and vegetables.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 14, 2013
Listed
Jul 7, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014