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Naili is 62 years old. She lives in a small village of Telavi District with her husband, Ivane. Both Naili and Ivane are retired. Their monthly pension in the amount of 214 Laris per month is the only source of the income for the family. According to the Credo estimations, the family belongs to the vulnerable, poor category.

Naili has requested credit for re-starting the family's agricultural business, which was stopped 3 years ago, because lack of recourse for financing the seasonal costs of the business. With the requested funds, Naili and Ivane will cultivate the family-owned plot of land and sow maize. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provisions for business start-up and re-startup credits with soft conditions to the country's rural poor population, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Naili will rent a tractor for tilling the land and purchase fertilizers and maize for sowing. Naili and Ivane will work hard on their plot of land during spring and summer to get a good harvest. They will sell harvested maize on the Telavi market. The family will get additional income and she will be able to improve family's living conditions. In addition to the above-mentioned, in the future 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
  • 43
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Naili to rent a tractor for tilling the land, purchase fertilizers and maize for sowing.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Apr 25, 2012
Apr 30, 2012
Currency Exchange Loss:
Sep 17, 2013