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Nino, 33, lives in Tskaltubo District, West Georgia with her four year old daughter and her mother-in-law. Nino’s husband, Shalva, works out of the country and provides financial assistance to his family. Nino requested a loan from local financial institutions several times for her business start-up but without any success. Her loan request was always rejected because of her low income and her family’s poor living conditions.

Nino works as a music teacher. Her salary is the main source of income for the family, along with the income of Nino’s mother-in-law from small scale agricultural activities. The average monthly income of the family is 300 Laris. Also periodically Nino’s husband sends some funds to the family. According to Credo's estimations, the family belongs to the subsistence poor category.

Nino requested a loan from Credo to create a music studio, where she will teach music, in particular Georgian songs to local children. Also, the family plans to construct a greenhouse. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup capital with soft conditions to the country's rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the credit received, Nino will purchase materials to renovate a room for her studio, as well as to purchase the relevant furniture for it. She will also purchase materials for the greenhouse construction. Nino’s mother-in-law will grow greens and tomatoes in the greenhouse and sell the harvest at the local market. Nino will be busy in her music studio. The new business initiatives of the family, financed with the Kiva Start-up loan, will significantly increase their income and even double it. With this, Nino will be able to provide better living conditions to her children.

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
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Nino to purchase materials to start a music studio.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 12, 2012
Jul 24, 2012
Currency Exchange Loss:
Aug 17, 2014