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Tsotne
Tsotne is 24 years old. He lives in the village of Dzevri with his mother and a brother. Tsotne leads the family agricultural business. Specifically, he owns five cows and sells the dairy products locally. In addition, he has a vineyard and produces wine to sell with the harvested grapes. Tsotne requested a loan from local financial institutions several times for a fast food business start-up, but without any success. His loan request was rejected all the time because of a lack of experience in this field. His loan request was approved in the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and restart-up credits with soft conditions to country vulnerable poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Tsotne will purchase all the needed equipment and the stock of raw materials to make doner. He will start the café and hopes his business will be profitable as there is not a similar café nearby. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family.

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

  • $6,100
    Average annual income
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $2,000 helped Tsotne to start a fast food cafe and sell doner.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 14, 2013
Listed
Sep 15, 2013
Currency Exchange Loss:
N/A
Expired:
Oct 15, 2013