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David is 38 years old. He is married and lives with his family: his wife – Natia, his 8-year-old daughter and 7-year-old son; the children go to school. The only source of the income for the family is a milk cow. The family consumes about half of the dairy products and the rest is sold in the village. Natia mainly produces cheese for sale. The total average monthly income of the family is 100 laris. They live below the poverty line and according to Credo estimations belong to the subsistence poor category.

David requested credit for start-up of a small business. A Kiva start-up loan was the only chance for him to get funds for financing the business venture. His loan request was approved in the framework of new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of extremely low income.

With the received credit David will purchase a truck. He will collect firewood in the forest and sell it in his and nearby villages. The villagers use it for heating their house during winter, as well as spring and fall months. According to David’s estimations the profit gained from this activity will equal on average 200 laris per month. The business will have a seasonal character and the income will reach its maximum in winter months.

As a result of the new business, initiated with the Kiva loan, the income of the family will significantly increase. David and Natia will use increased income for providing better living conditions for their children. In addition to the above-mentioned, the Kiva start-up loan will allow the family to access regular credit products available on country’s capital market in the future, 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
  • 76
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,300 helped David to purchase a truck for selling firewood.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
May 25, 2012
May 30, 2012
Currency Exchange Loss:
Nov 18, 2013