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Aug 10, 2016 8:02 PM ET

Archived: Georgia – Teimuraz: A loan of $1,250 helps to open an incubator and expand his poultry business to generate a more stable income.

iCrowdNewswire - Aug 10, 2016


Borrower image

Teimuraz’s story

Teimuraz is 39 years old and lives with his wife in Mtskheta. His wife receives an invalid pension from government institutions. Teimuraz has 15 hens and sells eggs locally. He wants to open an incubator and expand his poultry business.

The Start Up program, which is a joint initiative between Kiva and Credo, enables him to get a loan of 2,900 GEL. With the credit received, he will open an incubator and will have a more stable income. 

This loan is special because:

It helps people in vulnerable populations start a new business. 

Kendra Thorogood
Kiva staff 

More 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.

A loan of $1,250 helps to open an incubator and expand his poultry business to generate a more stable income.

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