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Teona
Teona is a 24-year-old woman. She lives in a small village in the Sagarejo district with her mother, brother, daughter-in-law and grandmother. Her grandmother is provided with a retirement pension. They have pigs and sell piglets. Teona bakes cakes and sells from home. She decided to expand this business and requested a loan. The Start Up program, which is a joint initiative with Kiva and Credo, enables her to get a loan of 2,000 GEL. She will rent a space at a local supermarket and will sell her cakes from there. This will increase sales as well as income. With increased income Teona will be able to expand her business in the future.

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
  • 96
    View loans »
    Georgia Loans Fundraising
  • $7,310,200
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Teona to bake cakes to sell at the supermarket.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 26, 2013
Listed
Oct 2, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2014