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Akhmed
Akhmed is a 33-year-old married man. He lives with his wife and parents in a small village of the Bolnisi district. His father works in building and gets 400 gel per month. In addition, the family runs an agricultural business. They have 0.5 hectares of agricultural land, where potatoes, tomatoes and maize are grown. Akhmed always has high quality products, which are sold to local retailers.

He decided to start a dairy business and requested a loan. The Start Up program, which is a joint initiative with Kiva and Credo, enables him to get a loan of $2,500 for purchasing cows. As the cows are purchased the family will start producing dairy products and selling them at a good price. This will increase the income of the 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.

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About Georgia

  • $6,100
    Average annual income
  • 79
    View loans »
    Georgia Loans Fundraising
  • $7,710,500
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $2,500 helped Akhmed to purchase cows.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Sep 19, 2013
Listed
Oct 26, 2013
Currency Exchange Loss:
N/A
Expired:
Nov 25, 2013