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Marine
Marine is a 55-year-old woman. She lives alone in a small village of Senaki district. Marine works as a sales person at a local supermarket and earns 200 GEL per month. As the existing income is not enough for her, she decided to start her own business and requested a loan.

The Start-Up program, which is a joint initiative between Kiva and Credo enables her to get a loan of 1,000 GEL to purchase clothing. She will purchase clothing from the wholesalers and then resell at a higher price.

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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Marine to begin trading clothing.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 30, 2013
Listed
Oct 6, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014