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Boris
Boris is a 64-year-old experienced farmer from the Chkhorotsku district. He lives with his wife, who gets monthly assistance from the local government.

The family's primary source of income is Boris's work selling agricultural products at the local market, taking care of cattle, and using their products for trading and for personal use. Boris's wife also helps him in this activity. As it becomes harder to earn a living with only this income, Boris decided to start himself another activity.

With the loan of $2,500, he will purchase a second-hand car and start bread distribution. He will serve local stores and provide them with bread. Boris applied for credit from MFO Credo. His request was approved in the framework of the Start Up program, which is a joint initiative with Kiva, permitting the rural poor to start or re-start businesses. The new initiative will give Boris a chance to have financial stability and increased monthly income.

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
  • 78
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Boris to purchase a car and start bread distribution.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 25, 2013
Listed
Jan 8, 2014
Currency Exchange Loss:
N/A
Ended:
Oct 25, 2014