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Levan
Levan is a 40-year-old, married man. He lives in the capital city of Georgia with his wife, two sons, and mother. His sons go to the local public school. His mother works at the library and gets 400 Gel per month. Levan’s wife is a housekeeper.

Levan is an artisan. He repairs damaged cars. He already has a car and a driver's license.

He decided to be involved in an additional business and requested a loan. His loan request was approved within the framework of a start-up program, which is a joint initiative between Kiva and Credo, to get a loan of USD 1,200.

With the received loan, Levan will install a fuel system in his car and he will serve local people as a taxi driver. This will increase the income 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.

Tags

About Georgia

  • $4,600
    Average annual income
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,548,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Levan to install a fuel system in his car.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2013
Listed
Sep 25, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 17, 2014