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Avtandil is 50 years old. He lives in a small village of the Samtredia District with his family; wife, Marina and a 21-years-old daughter who is a student. Marina works as a sales lady at a local store. She gets monthly salary in the amount of 200 Laris per month. The family also sells a small harvest of nuts every year. The total average monthly income of the family is 250 Laris. According to Credo estimations, they are in the subsistence poor category.

With the requested credit Avtandil will re-start the functioning of a family owned bread bakery. A year ago Avtandil stopped the business, because he didn’t have any funds for financing the bakery’s ongoing costs. His loan request was approved based on a new joint initiative of Kiva and Credo. The start-up loan program credits businesses in areas with soft financial conditions, such as the rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” because of low income.

With the received credit Avtandil will purchase flour and wood. He will produce traditional Georgian bread and sell it in the village. The income of the family will increase by 300 – 400 Laris, which will mean 120 – 160% increase. The living conditions of the family will significantly improve and the family will have enough income to access regular credit products available in 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Avtandil to purchase flour for re-starting the bakery.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 30, 2012
Apr 19, 2012
Currency Exchange Loss:
May 17, 2013