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Dariko
Dariko is 54 years old. She is widowed and lives alone in the Lagodekhi district. The only source of income for her is a little social assistance (nearly 36 USD) from the local government, as she lives below the poverty line. Dariko requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan requests were rejected all the time because of her low income and her poor living conditions.

Dariko requested a loan from Credo to start an agricultural business. Her loan request was approved within the frames of a joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high-risk borrowers” because of low income. With the received credit, Dariko will purchase two calves. After purchasing livestock, she will raise them and sell them in the spring for a higher price. It will generate an income and the new business initiative financed with the Kiva start-up loan will significantly improve her 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

  • $4,600
    Average annual income
  • 52
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Dariko to purchase calves.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 25, 2013
Listed
Aug 28, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014