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Jumberi is 61 years old and lives in the Chokhatauri District with his wife Julieta. He has asked for several loans from local financial institutions for his start-up business but without any success because of his low income and his family’s poor living conditions. The only source of income the family has is the small monthly salary Julieta earns by working as a teacher at the village school. The family earns a total of 150 GEL per month, which is barely enough to provide food for a two-preson family. According to Credo, the family belongs in the subsistence poor category.

Jumberi is requesting a loan from Credo to re-start a family business which he had to stop due to financial problems. He will use his loan to buy rabbits and begin working in animal husbandry. He will buy cages for rabbits to live in and sell their meat, which is in high demand locally. Jumberi's loan request was reviewed within the framework of a new joint initiative of Kiva and Credo. This start-up loan program helps people begin businesses with convenient credit terms that are ideal for the rural poor who do not have access to the usual sources of credit. Jumberi believes that his new business, financed with this Kiva start-up loan, will significantly improve the living conditions of his 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 $1,275 helped Jumberi to start an animal-husbandry business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 13, 2012
Dec 17, 2012
Currency Exchange Loss:
Oct 17, 2013