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Nanuli is 55 years old. She lives in the Kutaisi District with her husband, son, daughter, daughter-in-law and an infant granddaughter. Nanuli requested a loan from local financial institutions several times for an agricultural business start-up, without any success. Her loan request was rejected each time due to low income and the family’s poor living conditions. The only source of income for the family is the monthly salary of Nanuli’s husband, working as a local artisan. The family has pigs, and sells piglets seasonally.

The monthly income of the family is 400 Laris. It is hardly enough to feed a six-member family. According to Credo estimations, the family belongs in the vulnerable poor category.

Nanuli requested a loan from Credo to start up a dairy farm. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program provides for a business start-up, and re-startups. It has credits for soft conditions for the country rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” because of low income. With the received credit, Nanuli will purchase a milk cow. She will place it in an old empty farm building located in their yard. Nanuli will work hard on the farm. She will produce cheese, and sell it in the village.

The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Their income will double, and the family members will be able to improve their living conditions.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $900 helped Nanuli to purchase a milk cow to start up her new business.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 28, 2012
Nov 29, 2012
Currency Exchange Loss:
Jan 17, 2015