Check out some available loans that are similar to this one!
Magamed
Magamed is a 42-year-old man from the village of Karajalari. He lives with his wife and two little children. The family is involved in agricultural activities. In particular, they have a plot of agricultural land where they grow greens, but they earn insignificant income from selling them. It's hardly enough to pay all family costs and satisfy the needs of a four-member family. Magamed is motivated to improve the living conditions of his family and increase agricultural activity. He requested a loan 3,000 GEL to purchase chickens and, after raising them, start selling their eggs. He received the credit through a joint initiative between Kiva and Credo, a start-up program that gives rural poor people the chance to start or re-start a business. Magamed and his family rely on the goodwill of the lenders and will greatly appreciate their support.

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
  • 95
    View loans »
    Georgia Loans Fundraising
  • $7,302,200
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,725 helped Magamed to set up a poultry farm.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 23, 2013
Listed
Jan 10, 2014
Currency Exchange Loss:
Possible
Ended:
May 24, 2014