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Manana
Manana is 37 years old. She lives in Sagarejo District with her husband George and 16-year-old daughter, who goes to school. Manana requested loans 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 low income and the family’s poor living conditions.

George is an artisan of plastic doors and windows, but nowadays he is unemployed. Unfortunately the family is out of a source of income. According to Credo estimations the family belongs to the subsistence poor category.

Manana requested a loan from Credo to start up a family business. Manana 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 the 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 Manana will begin trade with used clothing. She plans to purchase a stock of used clothing at wholesale prices and then resell at higher prices. This will increase the income of the family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of her 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
  • 95
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $700 helped Manana to begin trade with used clothing.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 28, 2013
Listed
Jul 20, 2013
Currency Exchange Loss:
N/A
Ended:
Sep 17, 2014