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George
George is a 28-year-old man. He lives with his mother and grandparents in the capital city of Georgia, Tbilisi. His grandparents are provided with a retirement pension. George works as a distributor and gets small monthly income. George decided to run his own taxi business and requested a loan to purchase a used car. The Start Up program, which is a joint initiative with Kiva and MFO Credo, gives him a chance to get a loan of $ 3000 for purchasing a used car. He already has a driver’s license and after purchasing a car, he will serve people as a taxi driver. His calm demeanor will help him while driving. George will be able to generate income and improve the living conditions of his 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.

About Georgia

  • $4,600
    Average annual income
  • 95
    View loans »
    Georgia Loans Fundraising
  • $7,206,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $3,000 helped George to purchase a used car.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 20, 2013
Listed
Sep 23, 2013
Currency Exchange Loss:
N/A
Expired:
Oct 23, 2013