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Robert is from the Tbilisi city. He is 46 years old, married and lives with his wife and two grown children. One of them works as an assistant at the café and the younger is a student. Robert’s wife works as a nurse at the hospital and Robert is a mini-bus driver. Both of them get a monthly salary.

As the existing income is not enough for the family, Robert decided to start a new business. In particular, he plans to renovate his house properly and rent the rooms. Robert has requested a loan from the local financial institutions several times for a business start-up, but without any success. His loan request was rejected each time because of lack of experience in his new business which is usually demanded by local credit providers.

His loan request was approved under the framework of a 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 the country's rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the requested loan, Robert will purchase building materials to renovate the house properly for satisfying the personal needs of his clients. Robert hopes his business will be profitable and this will increase his income and the family members will be able to increase their spending to satisfy their daily needs, in order 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Georgia

  • $6,100
    Average annual income
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,931,175
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Robert to renovate the house and rent the rooms.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Nov 28, 2012
Dec 3, 2012
Currency Exchange Loss:
Sep 17, 2013