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Patman, age 37, is a dairy farmer. She lives in Chiatura District with her mother. She has requested loans from local financial institutions several times in order to start up a family business, but without any success. Her loan requests were rejected because of low income and the family’s poor living conditions.

The only source of the income for the family is from the dairy business. They have have three milk cows. Patman milks the cows, produces cheese, and sells it locally at the open market at a good price. Her mother is provided with a pension that brings them 125 Laris per month, which is not enough to provide food for the family. According to Credo estimations, the family belongs to the "subsistence poor" category.

Patman has requested a loan from Credo in order to start up a family business. Her loan request was approved in 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-start-up credit with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Patman will begin trading on clothing. She plans to purchase clothing in Turkey from wholesalers and sell these items among the villagers as well as in the nearby villages. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the 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
  • 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 $1,225 helped Patman to purchase clothing to offer for sale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 14, 2012
Nov 16, 2012
Currency Exchange Loss:
Feb 17, 2014