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Mariam
Mariam is a 26-year-old, married woman. She lives in a small village of Akhalkalaki district with her husband.

Nowadays, the family is out of sources of income. In the region, there is a high unemployment rate, but self-employment helps inhabitants to make a living.

So, she decided to request a loan, but the local credit providers usually demand experience and some stable income from the borrowers. Her credit requests were rejected several times since she was unable to satisfy their requirements.

She received a credit in the framework of a joint initiative between Kiva and Credo. The start-up program gives rural poor people the chance to start or re-start businesses. With the loan of USD 3,700, Mariam will purchase a car and her husband will serve local people as a taxi driver. They will generate the income and they will be able to cover everyday costs and also improve their living conditions in the future.

With support of the start-up program, the family will tackle their financial difficulties.

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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $3,700 helped Mariam to purchase a car for her husband to serve local people as a taxi driver.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2013
Listed
Sep 13, 2013
Currency Exchange Loss:
N/A
Expired:
Oct 13, 2013