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Guliko
Guliko is 36 years old, married and living in the village of Dzimiti with her husband and school-aged daughter. The family runs a small-scale agricultural business for seasonal income. Specifically, they cultivate the plot of land where maize and nuts are grown. The harvest is sold at the local market.

Besides this, Guliko runs a dairy farm with a cow for milk. She produces dairy products with the milk and sells them from her house. As their existing income is very small and is not enough to cover everyday expenses, Guliko decided to start a clothing sales business. She requested a loan from the local credit providers, but they usually demand some stable income from the borrowers. Guliko’s credit requests were rejected several times, as she didn’t satisfy their requirements. She received this credit in the framework of joint initiative of Kiva and Credo, the so-called Startup Program that gives rural poor people the chance to start or re-start businesses. With this loan of 2,000 GEL she will purchase clothing and household items at wholesale prices and sell them in her community door-to-door. She plans to sell a wide assortment of well-priced clothing for men, women and children and bedclothes as well. It is obvious that the job is hard for Guliko, but she is ready to deal with the difficulties and develop her business gradually. The Start Up credit will be a great support for the family, as their income will be significantly increased thanks to 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
  • 94
    View loans »
    Georgia Loans Fundraising
  • $7,206,500
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Guliko to start a clothing trading business.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2013
Listed
Aug 27, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013