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Jansughi is 49 years old and lives with his wife and two children (15 and 18 years old) in Zestaponi district. The only source of income for the family is the small income, earned by Jansughi, who is involved in book trading. He has been running the business during five years and the project was profitable, but now it needs financial support. Several times, he has asked for loans from local financial institutions to develop his business with no success. His loan requests were rejected each time because of his low income.
Jansughi’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit, with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income. With the received credit, Jansughi will cover the costs of purchasing needed stock of books that customers often request. He plans to increase the turnover in his trade business gradually. The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Jansughi will work hard, and he will be able to improve the living conditions for his family. With this loan, the family will generate enough income to access regular available credit products in the country’s capital market, in the event it is needed.

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
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Jansughi to purchase books for resale.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 22, 2012
Nov 28, 2012
Currency Exchange Loss:
Sep 17, 2013