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Konstantin is 27 years old. He lives in the village of Mukhiani, West Georgia with his wife Diana, two children (7 and 6 years old) and his 74-year-old grandmother. Konstantin requested a loan from local financial institutions several times for family business re-start-up, but without any success. His loan request was rejected each time because of insufficient income.

The main source of income for the family is their small-scale agricultural business, led by Konstantin. He has a small family farm with a milk cow and a pig. Dairy products are mainly consumed by the family members, and a small surplus is sold to local dairy products retailers. Also, Konstantin sells piglets in the village. The total average monthly income of the family is 300 Laris, including the monthly pension of Konstantin’s grandmother. According to Credo estimations the family belongs to the subsistence poor category.

Konstantin requested a loan from Credo to re-start the family business, which was stopped recently because of financial problems. His loan request was approved in the framework of new joint initiative of Kiva and Credo. This start-up loan program envisages provision of business start-up and re-startup credits with soft conditions for 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 Konstantin will renovate family-owned greenhouses, which aren’t functional now, as they are in bad condition. After renovation Konstantin will re-start to grow vegetables in the greenhouses during whole year and the income of the family will significantly increase. This will allow him to provide better living conditions for the family members.

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
  • $7,901,050
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Konstantin to purchase materials for greenhouse renovation.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 20, 2012
Sep 4, 2012
Currency Exchange Loss:
Nov 15, 2012