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Bagrat is 24 years old. He lives in Ninotsminda District with his father and his wife. Bagrat has requested a loan from local financial institutions several times for agricultural business start-up, but without any success. His loan request was always rejected, because of low income and the lack of experience in his new business, which is usually demanded by local credit providers.

Bagrat has a bakery locally and bakes bread which is sold at the local market. He has requested credit for the start-up of an agricultural business. His loan request was approved under a 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 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, Bagrat will purchase pigs. He will place them in an old empty farm building located in their yard. He will work hard on the farm to raise them and sell them for a higher price. Another part of the credit will be used for purchasing flour. Bagrat will bake more bread and increase the sales volume. That will significantly increase the income of the family, and Bagrat will be able to provide better living conditions for his wife and father.

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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Bagrat to purchase pigs and flour for his bakery.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 30, 2012
Dec 4, 2012
Currency Exchange Loss:
Dec 17, 2014