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Telman, 64 years old, lives in a small village in Telavi District with his wife Marine and 20-year-old son. Telman works as a night-watchman in a village vineyard, earning a monthly salary of 130 Laris, the family's only income. According to Credo estimations, they belong to the vulnerable poor category.

Telman has requested a loan to start an agricultural business. His loan request was approved within the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup loans with soft conditions to country rural poor who, because they are regarded as “high risk borrowers” due to low income, do not have access to credit products.

With the loan, Telman will purchase six calves, placing them in the old cattle-shed located in his yard. After six months, he will sell the grown calves for a profit. For the first year Telman plans to reinvest the profit in the business to expand it and make it more profitable. As the family will have additional income, their living conditions will significantly improve, and they 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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Telman to purchase calves.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Apr 18, 2012
Apr 24, 2012
Currency Exchange Loss:
Nov 15, 2012