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Iakhia
Iakhia is a 29-year-old married man. He lives with his wife and mother in a small village of Bolnisi district. Iakhia works as a musician at a local restaurant and gets 400 GEL (Georgia Laris) in a month. Besides that, he is a very hardworking young man and works on his family owned land. He cultivates the land and sows potatoes seasonally.

As the existing income is not enough for the family, he decided to start his own business. All the financial institutions rejected his loan requests because of his unstable financial conditions and lack of experience. After several unsuccessful attempts, Iakhia applied for credit with MFO Credo. His request was approved in the framework of the Start Up program, which is a joint initiative with Kiva, permitting the rural poor to start or re-start businesses.

With a loan of $2,500, Iakhia will begin trading fruits and vegetables. He plans to purchase fruits and vegetables at wholesale prices and then resell at higher prices. The Start Up credit will be a great support for the family, as their income will be significantly increased thanks to the regards of Kiva lenders.

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
  • 58
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Iakhia to begin trading fruits and vegetables.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 3, 2013
Listed
Aug 2, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2014