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Gia is 28 years old. He lives in Akhmeta District, East Georgia, with his wife, Lela, and one-year-old son. Gia has requested a loan from local financial institutions several times for agricultural business start-up, but without any success. His loan request was always rejected, because of low income and his family’s poor living conditions.

Gia works as a worker in the village. He earns on average 150 Laris per month, and it is the total average monthly income of the family. According to Credo's estimations, the family belongs to the subsistent poor category.

He has requested credit for the start-up of an agricultural business. His loan request was approved under a new joint initiative of Kiva and Credo. The start-up loan program envisages the 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, as they are regarded as “high risk borrowers” because of their low income.

With the received credit Gia will purchase a tractor. He will perform agricultural work with the tractor on the lands of nearby farmers, mainly on tilling and sowing seasons and will be paid by landlords. It will significantly increase the income of the family, and Gia will be able to provide better living conditions for his son and wife.

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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Gia to purchase a tractor.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 17, 2012
Jul 24, 2012
Currency Exchange Loss:
Jun 17, 2013