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Andro is 62 years old. He lives in Tskaltubo, with his wife, Tina.
The family earns their income from a newly-started business in their local town. Andro has a bakery, where traditional Georgian breads are baked and sold locally. The income from this bakery is hardly enough to cover food and everyday expenses for the family. Andro has requested a loan from local financial institutions several times for developing the business, but he hasn't had any success. His loan request was rejected all the time because of his low income and his lack of experience, which is usually demanded by the local credit providers.
Because his income is not enough for the family, Andro has decided to expand the existing business with the requested loan. His loan request was approved in the frame of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to rural poor people, who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income. With the received credit, Andro will expand his Georgian bakery and increase the amount of baked bread. This will increase sales volume. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of Andro's 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Andro to expand his Georgian bakery and bake more bread.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 17, 2012
Nov 21, 2012
Currency Exchange Loss:
Jan 17, 2015