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Guram
Guram is a 25-year-old married man. He lives with his wife, two children and grandparents in Tbilisi, the capital city of Georgia. His grandparents are provided with a retirement pension. In the region there is a high unemployment rate, but self-employment helps inhabitants to make a living. Guram has a newly opened fast food business and needs money to purchase stock. He received credit in the framework of a joint initiative of Kiva and Credo - Startup Program that gives rural poor people the chance to start or re-start businesses. With the loan of $2000, he will purchase stock and will offer a wide assortment of fast foods to his customers. The Start Up credit will be a great support for the family, as their income will be significantly increased thanks to Kiva Lenders.

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
  • 96
    View loans »
    Georgia Loans Fundraising
  • $7,374,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Guram to purchase stock for his fast food business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 4, 2013
Listed
Dec 4, 2013
Currency Exchange Loss:
N/A
Ended:
May 24, 2014