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Lado is 47 years old. He is married and lives with his family: his wife, Olja, two daughters (19 and 17 years old), and an 8-year-old son. His eldest daughter is a student, and their son goes to school. The family has one hectare of land. Lado and Olja grow potatoes on their land and sell the harvest locally to retailers. The main source of the income for the family used to be a truck owned by Lado. He was busy with the transportation of various goods and worked when he had orders. Recently, the truck got out of order, and Lado had to stop his operations. Right now, the total average monthly income for the family is 300 Laris. According to Credo estimations, the family belongs to the substantially poor category.

At the moment, Lado’s truck is out of order and needs a serious renovation. He has requested a credit for purchasing spare parts for his truck. His loan request was approved in the frames of a new joint initiative of Kiva and Credo. The start-up loan program provides business start-up and restart-up credits with soft conditions to the country's rural poor, who do not have access to credit products, because they are regarded as “high-risk borrowers” due to their low income. With the received credit, Lado will purchase spare parts for his truck and change the damaged ones. Afterwards, Lado will be able to re-start his transportation service and receive income, which will then be used for financing the education of his children as well as improving the living conditions for his family. The income of the family will increase by 300 – 400 Laris, which will mean a 100% – 125% increase. In addition to the above mentioned, the family will have enough income to access regular credit products that are available on the country’s capital market in case they need them.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,799,500
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Lado to pay for spare parts for his truck.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
May 7, 2012
May 23, 2012
Currency Exchange Loss:
Sep 17, 2013