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Nino is 43 years old. She lives in the Chkhorotsku District with her husband and two children.

Nino had requested loans from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of her low income and the family’s poor living conditions.

The only source of income for the family is from their agricultural business. In particular, they have 0.5 hectare of land, where 150 nut trees and 5 persimmon trees are grown. It brings hardly enough for food to a four-member family. According to Credo estimations the family belongs to the subsistence poor category.

Nino has requested a loan from Credo to start up a family business. Her loan request was approved in the frames of the new joint initiative of Kiva and Credo.

The start-up loan program envisages the provision of business start-up and re-startup credits, with soft conditions to country rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” due to their low incomes.

With the received credit, Nino will begin trading with clothing. Nino plans to purchase clothing from wholesalers and resell it among her villagers. The new business initiative, financed with the Kiva Start-up loan, will increase the income and 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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Nino to purchase clothing from wholesalers to resell.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Nov 27, 2012
Nov 28, 2012
Currency Exchange Loss:
Jan 18, 2014