Check out some available loans that are similar to this one!
George
George lives in the town of Kutaisi. He is 48 years old and lives with his wife and daughter. George is an artisan, working on special orders locally. He gets a small monthly income which isn’t enough to cover the everyday expenses of his family. As the unemployment rate is high in the region and it’s often impossible for people over 40 to find a job, self-employment is the best way for them to earn a living. George’s case is similar. He has recently decided to purchase a car and start a taxi business to get additional income and ensure his family members have better living conditions. George’s 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 vulnerable poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, George will buy a secondhand car and serve the local people as a taxi driver during his free time. The income of the family will increase and they 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.

Tags

About Georgia

  • $6,100
    Average annual income
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped George to buy a secondhand car and start a taxi business.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 27, 2013
Listed
Jul 26, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2015