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Iason
Iason is a 33-year-old married man. He lives with his wife and son in a small village in the Senaki district. The family is involved in agricultural activities. In particular, they have a cow and two calves. His wife milks the cows every day and produces dairy products to sell. In addition, they have a plot of agricultural land, where different kinds of vegetables are grown. He always has high quality products, which are sold to local retailers for a good price.

Sadly, for lack of economic resources, and because he had to start working at a very young age, Iason was unable to study for a professional career. As the family has only seasonal income, Iason decided to start selling clothes and sought credit among local financial institutions. However, his attempts were unsuccessful, because of his poor living conditions. The start-up program, that is a joint initiative between Kiva and Credo, enables rural poor and inexperienced people to get loans for starting or re-starting businesses. His application was approved under the framework of this program to get a loan of 900 USD. He will purchase clothes to sell with the loan.

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

  • $4,600
    Average annual income
  • 61
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $900 helped Iason to begin selling clothes.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2013
Listed
Oct 5, 2013
Currency Exchange Loss:
N/A
Ended:
Dec 17, 2014