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Mevludi
Mevludi is a 64-year-old married man from the village of Chumlaki, East Georgia. He lives with his wife in his own house. Mevludi’s economic activity is a small-scale grocery store in his district where various food products are sold and there is a pharmacy. Mevludi works hard to run his business successfully but he still doesn’t have enough income to make savings and improve his standard of living.

He is very enthusiastic and has good business acumen. He has noticed a high demand for a dinner hall in his district. In response to the local market demand, he has requested credit to finance the costs of purchasing building materials and all the needed inventories for starting a dinner hall. He owns commercial space, and after renovation and furnishing, Mevludi will be able to host wedding parties, birthdays, etc. Local people will pay for using the hall and Mevludi will earn extra money.

He hopes this Kiva loan will be helpful for 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.

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About Georgia

  • $6,100
    Average annual income
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,175 helped Mevludi to start up a dinner hall in his district.
87% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 15, 2013
Listed
Nov 17, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2015