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Shorena
Shorena is 33 years old. She lives in the Rustavi district and she works at the local school's cafeteria as a baker. She is a very hardworking young woman.

Shorena has decided to start her own business and has requested a loan. The Start Up program, which is a joint initiative between Kiva and Credo, enables her to get a loan of $500 to start a trading business. She will get orders for home products, go to Turkey to purchase them, and then resell in Rustavi. This will increase her income and she will reinvest the profits in her business.

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
  • 73
    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 $500 helped Shorena to start a trading business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 8, 2014
Listed
Jun 8, 2014
Currency Exchange Loss:
N/A
Ended:
Jan 1, 2015