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Gela is from the village Nagvazao, West Georgia. He is 41 years old, married and lives with his family: his wife Marina, a 10 year old daughter and his parents. He has requested loan from a local financial institution several times for an agricultural business start-up, but without any success. His loan request was rejected each time, because of low income and the family’s poor living conditions.

The only source of the income of the family is a small dairy farm with 2 milk cows. Gela and Marina produce traditional West Georgian cheese and sell it in the village. Total average monthly income for the family is 300 Laris, including pensions of Gela’s parents. It is hardly enough for food, for a four member family. According to Credo estimations, Gela’s family belongs to the subsistence poor category.

Gela has requested loan from Credo for constructing a greenhouse. His loan request was approved in the frames 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 the country's rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Gela will purchase wooden materials and polyethylene cover for the greenhouse. He will grow greens (in winter and spring months) and cucumbers (during summer and fall seasons) in the greenhouse. He will work hard in the greenhouse during whole year to get quality harvests. Gela will sell harvested products on the open market in the nearby town. The new business initiative, financed with the Kiva Start-up loan, will increase the average monthly income of the family by 60 – 70%. The family members will be able to increase their spending to satisfy their daily needs. This will improve their living conditions.

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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,800,275
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Gela to purchase materials for greenhouse construction.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 19, 2012
Jun 25, 2012
Currency Exchange Loss:
Jul 17, 2013