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Petre
Petre is a 46-year-old married man from the village of Apeni, Lagodekhi district. He lives with his wife, 2 school-aged children and mother, who gets a pension from the local government. His wife is a housekeeper and helps Petre with everyday work. He runs agricultural activities, and trades with cultivated vegetables, watermelon and maize. Per month he generates 400 GEL. For further development, Petre's agricultural business needs some investment as he wants to sow more watermelon, purchase fertilizer and repair his greenhouse. With the requested loan he will buy plastic for the greenhouse, harvest more watermelons and get more income. Petre will be grateful for Kiva lenders' help.

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.

About Georgia

  • $6,100
    Average annual income
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Petre to purchase watermelon fertilizer and plastic for his greenhouse.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jan 25, 2014
Listed
Feb 24, 2014
Currency Exchange Loss:
N/A
Ended:
Dec 25, 2014