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Irina is 44 years old. She lives in Borjomi District with her mother, who is provided with a retirement pension. Irina requested loans from local financial institutions several times for family business start-ups, but without any success. Her loan request was rejected every time because of low income and her family's poor living conditions.

The only source of income for the family is Irina's monthly income. She works as a shop assistant. It is hardly enough for food for the family. According to Credo's estimates, the family belongs to the subsistence poor income category.

Irina requested a loan from Credo to restart a family business, which had recently been stopped because of financial problems. Her loan request was approved in the framework of a new joint initiative by Kiva and Credo. The start-up loan program envisages a provision for business start-ups and re-startup credits with soft conditions for the country's rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” because of their low income.

With the received credit, Irina will purchase the shop where she works as an assistant. The current owner decided to sell the shop and move to a new residence. After Irina officially registers the shop, she will continue working there. Owning the shop will increase the income of Irina's family. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of Irina'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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Irina to buy a shop.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Nov 20, 2012
Nov 22, 2012
Currency Exchange Loss:
Oct 17, 2014