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Nino is 57 years old. She lives with her sister and mother in the Batumi District, West Georgia. Nino requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

Nino works as a sales lady in a grocery store. It makes a total of 250 Laris per month. Her mother is provided with a retirement pension and gets 125 Laris per month. It is hardly enough to buy food for the 3 member family.

Nino requested a loan from Credo to start up a family business. Her loan request was approved in the framework of 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 country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Nino will rent the grocery store where she works as a sales lady, and will purchase a stock of goods for resale. She will work hard and do her best to increase the income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of the family. Nino awaits your support.

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
  • 54
    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 $3,000 helped Nino to rent a grocery store and purchase a stock of goods.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Dec 31, 2012
Currency Exchange Loss:
Jan 17, 2015