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Gocha
Gocha lives in the small village of Dighomi, near the capital city. He is 48 years old, married, and lives with his wife Manana, two sons, and a daughter-in-law. Manana works at the local bakery and gets a monthly salary.

Gocha's economic activity is a greenhouse where different kinds of vegetables are grown. His sons help Gocha run this business. The harvested products are sold at the capital city open market. Gocha decided to start his business as their existing income isn't enough for the family and their living conditions are poor.

His loan request was approved in the frame of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restartup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as "high risk borrowers" because of low income.

With the loan, Gocha will purchase a car and serve local people as a taxi driver. The income of the family will increase and they will be able to improve the living conditions of the family. Along with the above mentioned, the family will have enough income to access regular credit products available in the country's capital market, in case of need.

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
  • 93
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $3,000 helped Gocha to purchase a car for use as a taxi.
84% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 28, 2013
Listed
Jul 11, 2013
Currency Exchange Loss:
N/A