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Nikoloz is 37 years old. He is unmarried and lives in the Tskaltubo District with his parents. Nikoloz is a fireman and gets a small monthly salary. The source of income for the family is the retirement pensions of Nikoloz’s parents. The family belongs to the vulnerable poor category. Since their income is not enough for the family's needs, Nikoloz decided to start up a new business. He went to a local credit agency to get money for this business start up, but without any success. His loan request was always rejected because of his low income and lack of experience in starting a new business. He received the loan in the framework of a start-up loan program that was initiated jointly by Credo and Kiva. This program aims at the provision of business start-up funds for the Georgian rural poor, who do not have access to regular credit products, as they live in poverty and are regarded as “borrowers with a high risk." With the requested credit, Nikoloz will purchase chickens and raise them. After 4-5 months, he will start to sell them. The hens will be sold on the open market in a nearby town by Nikoloz. He will reinvest the profit for the further expansion of the farm. Also, part of the profit will be used for purchasing some necessary household goods to improve his 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
  • 56
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,600 helped Nikoloz to start up a poultry farm.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Nov 29, 2012
Dec 7, 2012
Currency Exchange Loss:
Jan 17, 2015