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Tamaz is from a mountainous village of Kakheti Region. He lives alone in his village house. He requested a loan from local financial institutions several times, but without any success. His loan request was rejected all the time, because of low income and his poor living conditions.

Tamaz is a taxi driver. He provides transportation service to the population of a nearby town and earns on average 150 Laris per month. According to Credo estimations he belongs to the vulnerable poor category.

Tamaz requested an agricultural loan from Credo to start up a small-scale agricultural business. His loan request was approved in the framework of a 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 low income.

With the received credit Tamaz will purchase calves. He will grow them and sell them in 6 months with a price mark-up. With the received income Tamaz will purchase more calves to expand the business. As a result of the Kiva loan Tamaz’s income will increase and he will be able to lift himself out of poverty.

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

  • $4,600
    Average annual income
  • 55
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Tamaz to purchase calves.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Jun 5, 2012
Jun 12, 2012
Currency Exchange Loss:
Feb 15, 2013