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Tamaz is 44 years old. He lives in the Akhmeta District with wife Mariam and three children (12, 10 and 7 years old). All three children go to school. Tamaz requested a loan from local financial institutions several times for his agricultural business start-up, but without any success. His loan request was rejected all the time because of his low income and the family’s poor living conditions.

The only source of the income for the family is small-scale agricultural activities. They grow fruits and vegetables on a family-owned plot of the land and sell them at the local market. According to Credo estimations, the family belongs to the subsistence poor category.

Tamaz requested a loan from Credo to re-start livestock farming, which was stopped two years ago, because of the family’s financial problems. His loan request was approved in the frame of the new joint initiative of Kiva and Credo. The start-up loan program envisages provisions 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 loan, Tamaz will purchase calves. He will raise them and sell them after several months. The mature calves will be sold for a good price, bringing additional income to the family. With his next loan, Tamaz will purchase more calves. The new business initiative, financed with the Kiva Start-up loan, will significantly increase the income of the family. Their income will double and the family members will be able to 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Tamaz to purchase calves.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Aug 20, 2012
Sep 5, 2012
Currency Exchange Loss:
Jun 17, 2013