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Kristine
Kristine is 33 years old. She lives in the small village of Abasha District with her husband and five children. Kristine requested a loan from local financial institutions several times for family business start-up, but without any success. Her loan request was rejected all the time, because of low income and her family’s poor living conditions.

The only source of income for the family is from the agricultural activities. In particular, they have a pig and a milk cow, whose milk is made into cheese products. Besides that, they have a 1.3 hectare plot of agricultural land, where maize is grown. They sell piglets, cheese and harvested maize at local markets. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Kristine requested a loan from Credo to start-up family business. Kristine 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 Kristine will begin to buy and sell fruits and vegetables. This will increase the income of their 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
  • 102
    View loans »
    Georgia Loans Fundraising
  • $7,324,475
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $500 helped Kristine to begin buying and selling fruits and vegetables.
98% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2013
Listed
Jul 8, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2015