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Update on Tea

Tea is a 31-year-old married woman. She lives with her husband, son and mother. The family is involved in the agricultural business. They have a land where potatoes and haricots are grown and sold.

They work hard and always have high quality products, which are sold to local retailers. Tea had a dairy business, but she had to sell her cows because of her son's health problems. Now her son is well and she decided to be involved in dairy business and requested a loan.

The Start Up program, which is a joint initiative between Kiva and Credo, gives her a chance to get a loan of 4,000 GEL to purchase cows. After the cows are purchased, she will be able to continue her dairy business and produce and sell cheese products. The Start Up program will be a great support for her.

Previous Loan Details

Tea is 30 years old. She lives in the small village of Akhaltsikhe with her husband, mother and infant child. The family is involved in an agricultural business. In particular, they have agricultural land where they grow potatoes and haricots. They sell the harvested products locally in an open m... More from Tea's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Georgia

  • $6,100
    Average annual income
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,643,950
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Tea to buy dairy cows to continue her business and produce and sell cheese products.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 26, 2013
Sep 26, 2013
Currency Exchange Loss:
Oct 17, 2015