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Soso
Soso is 29 years old and is a married man, from Batumi city. He lives with his wife and 2 kindergarten-aged daughters. The only employed person in the family is Soso, who works as an electric-welder and earns 580 GEL monthly. He has just started another activity: trading iron items. He has opened a metal shop and gets private orders. Soso has rented a place in an auto station, where he sells his items. His plan now is to continue to work on his business and to make it grow. Soso applied for the credit to MFO Credo. His request was approved in the framework of their Start Up program, which is a joint initiative with Kiva, permitting the rural poor to start or re-start businesses. A loan of $3000 will help him to purchase materials and get more orders. This will be great support for this hard-working man, enabling him to increase his income significantly and provide a better future for his family. Soso awaits yours goodwill.

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
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Soso to purchase materials for him to make more metal items.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 24, 2013
Listed
Jan 15, 2014
Currency Exchange Loss:
N/A
Ended:
Jul 17, 2015