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Alex is 46 years old. He lives in a small village of Telavi District, East Georgia. Alex lives with his family: wife – Lia, 22 year old son and 17 years old daughter who goes to school. Lia is a housewife. Alex works as a worker in a local crushing mill. His monthly salary is 500 Laris and it is the only income during the month for the family. According to Credo, he estimates the family belongs to vulnerable poor category.

Alex used to run a dairy farm. He had cows. The family was producing cheese and selling it. Alex sold the cows because he needed cash for covering medical expenses related to the illness of his child. Now Alex requests credit for restarting the dairy farm. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program envisages provisions of business start-up and re-startup credits with soft conditions to the country's rural poor, which do not have access to credit products and are regarded as “high risk borrowers” because of low income. With the received credit, Alex will start up a dairy farm. He will purchase four calves and grow them. Calves will be placed in old cattle sheds, located in Alex’s yard. After a half year he will start production of cheese and sell it on the local market to dairy products retailers. The income of the family will increase by 500 – 600 Laris, which will mean a 100 – 120% increase. The living conditions of the family will significantly improve and the family will have enough income to access regular credit products available in country’s capital market, in needed.

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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Alex to purchase calves for dairy farm.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 26, 2012
Apr 9, 2012
Currency Exchange Loss:
Jan 15, 2013