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David is 23 years old. He lives in a small village of Baghdati District, West Georgia. David lives with his parents and grandmother (retired). The only source of the income for the family is their small-scale agricultural business. They have a vineyard with 300 grape vines and 70 nut trees. David and his father produce wine. They sell wine and nuts in the village. The total average monthly income of the family is 210 Laris, including the pension of David’s grandma. According to Credo estimations the family belongs to the subsistence poor category.

David requested credit for start-up of a trade business. He will purchase cheap cars in Europe and sell them in Georgia for a higher price. It will give additional income to the family. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up credits with easy conditions to country 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 Alex will purchase a car in Europe and sell it in Georgia for a higher price. For the first time David will reinvest the total profit in the same business to increase the turnover. In the long term, the living conditions of the family will significantly improve and the family will have enough income to access regular credit products available on the country’s capital market, in case of need.

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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
A loan of $2,000 helped David to purchase a car in Europe for resale in Georgia.
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 12, 2012
Apr 24, 2012
Currency Exchange Loss:
May 24, 2012