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Malkhaz lives in Gori District. He is 50 years old, married and lives with his wife and two children, who both are students. Malkhaz’s wife works as a saleslady and gets a small monthly income. Malkhaz is, at the moment, unemployed.

The income source for the family is agricultural land, where they grow tomatoes and cherries and sell seasonally. Besides, they run a small dairy farm with 2 milk cows, whose milk is used for cheese products. The family sells their cheese production at the local open market.

Malkhaz decided to start his business as their existing income isn’t enough for the family and their living conditions are poor. His loan request was approved in the frame 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 for 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 received credit, Malkhaz will purchase a car and serve as a taxi driver to local people. The income of the family will increase and they will be able to improve the living conditions of the family. Malkhaz will be able to finance the education of his children and ensure a better future for them. Along with the above mentioned, the family will have enough income to access regular credit products available in the country’s capital market in case of need.

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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,600 helped Malkhaz to purchase a car to use as a taxi.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 17, 2012
Dec 20, 2012
Currency Exchange Loss:
Jan 17, 2015