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Aza
Aza is 54 years old. She lives in Tskaltubo District with her husband and a grown son. Aza requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected each time because of low income and the family's poor living conditions. The only source of income for the family is a small agricultural business. They have three milk cows and produce cheese which is sold locally. Their income is hardly enough for food for a three-member family. Aza requested a loan from Credo to start up a family business and build a greenhouse.

Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages a provision of business start-up and re-startup credits with soft conditions to rural poor, who do not have access to credit products, being regarded as "high risk borrowers" because of low income. With the loan, Aza will purchase all the building materials for the greenhouse. After the greenhouse is built properly, Aza will grow greens and various vegetables. The harvested products will be sold for a good price. The new business initiative, financed with the Kiva start-up loan, will significantly increase the family income and all members will improve their living conditions.

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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Aza to purchase building materials and construct a greenhouse.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 5, 2013
Listed
Jul 24, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014