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Emzar
Emzar is a 46-year-old married man. He lives in the Rustavi district with his wife, two sons and a daughter-in-law. Both of his sons work at a distribution company and get a small monthly income. Emzar is not employed nowadays.

In the region, there is a high unemployment rate, but self employment helps inhabitants to make living. Because of that, Emzar decided to start own business; however, the local credit providers usually demand experience and some stable income from the borrowers when they request a loan. Emzar's credit requests were rejected several times as he was unable to satisfy their requirements. Emzar was able to receive credit in the framework of a joint initiative between Kiva and Credo, a startup program that gives rural poor people the chance to start or re-start businesses. With a loan of 3,000 USD, he will purchase a car and serve the local people as a taxi driver. Emzar is very enthusiastic and a hardworking person with a great desire to ensure that his children are progressing in life. This credit will be a great support to the family. Emzar is thankful to Kiva lenders for giving him a chance to generate income.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,799,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Emzar to purchase a car and serve the local people as a taxi driver.
100% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 20, 2013
Listed
Sep 21, 2013
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2014