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Ivane is 67 years old. He lives in Telavi District with his wife, Naili, his grown son, daughter-in-law, two grandsons (14 and 19 years old), and mother. His elder grandson is a student and the younger goes to the local school. Ivane has requested several previous loans from local financial institutions for his family business start-up without any success. His loan request has been rejected many times because of his low income and his family’s poor living conditions.

The only source of the income for the family is the monthly pension of Ivane and his mother. His son works as an operator in a private concrete company and Naili serves at the factory to get a small monthly income. The family earns a total of 620 GEL per month which is hardly enough to provide food for a seven-member family. According to Credo estimates, the family belongs to the subsistence poor category.

Ivane is requesting a loan from Credo to re-start-up his family business which he had to stop due to financial problems. He will use his loan to purchase pigs to start an animal husbandry business. He will put the pigs in a shed in the yard and raise and sell them for a higher price. Ivane's loan request was approved within the framework of a new joint initiative of Kiva and Credo. This start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions for country rural poor who do not have access to credit products as they are regarded as “high risk borrowers” due to their low income. Ivane's new business initiative, financed with his Kiva start-up loan, will significantly improve the living conditions of his family.

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
  • $7,896,375
    Funds lent in using Kiva
  • 1.6
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Ivane to purchase pigs and start an animal husbandry business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 13, 2012
Sep 26, 2012
Currency Exchange Loss:
Apr 16, 2014