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Ramaz is 47 years old. He lives in a village in the Samegrelo region of West Georgia with his family: his wife Emma, three children (10, 7 and 1 years old) and his mother. The older children go to a local school.

The only source of the income for the family is a small-scale agricultural business. They have a milk cow, the dairy products from which are mainly consumed by the family members. The small surplus is sold in the village. Also the family owns 150 nut trees and they sell nuts in season. The total average monthly income for this 6-member family is 300 Laris, including the monthly pension of Ramaz’s mother. According to Credo estimations, the family belongs to the rural poor.

Ramaz requested credit to purchase 2 hectares of land. His loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program envisages provisioning business start-ups and re-startups with credits with soft conditions to the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Ramaz will purchase 2 hectares of land. He will sow maize on the land every year and sell the harvest in the fall. The income for the family will double and the family members will be able to improve their living conditions significantly. In the future, the family will have enough income to access regular credit products available on the country’s capital market.

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
  • 78
    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 $1,500 helped Ramaz buy 2 hectares of land.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 21, 2012
Mar 26, 2012
Currency Exchange Loss:
May 17, 2014