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Nugzar is 38 years old. He lives in the small village of Kobuleti with his wife, Mzia, and three children (ages 11, 14 and 17). The younger children go to school and the elder one helps his parents in the family business.

Nugzar and his wife earn their living through an agricultural business. They have a milk cow, two calves and beehives with bee colonies. They produce cheese and ecologically clean honey. Nugzar harvests honey twice and year and sells it at the local market.

Nugzar has requested a loan to purchase beehives with bee colonies. This will enable him to produce more honey and increase his sales. As a result of the above-mentioned investment, the income of the family will increase.

Also, Nugzar and Mzia will use a small part of the credit to renovate part of their house in order to improve the living conditions of the family.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Nugzar to buy beehives with bee colonies.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
May 24, 2012
Jun 12, 2012
Currency Exchange Loss:
Mar 15, 2013