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David
David is 22 years old and living in the small town of Chokhatauri. He is single and living with his parents. The only one who makes money in the household is David’s father, working for a local municipality as an economist. He gets a small monthly salary to cover food and daily expenditures. David is a very energetic and enthusiastic young man with a great desire to get ahead.

He is very grateful for the support that the Kiva lenders are offering him since, thanks to their help, he will be able to purchase all the needed materials for greenhouse construction. He plans to grow mushrooms there and sell the harvest at the local open market. Thanks to this loan, he will improve the quality of life and increase family income. His goal is to provide his family with better living conditions and be financially independent.

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.

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About Georgia

  • $4,600
    Average annual income
  • 90
    View loans »
    Georgia Loans Fundraising
  • $7,374,600
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped David to construct a greenhouse and grow mushrooms there.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 3, 2013
Listed
Sep 5, 2013
Currency Exchange Loss:
Possible
Ended:
May 24, 2014