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Amiran is 44 years old and is from the small village of Khelvachauri. He lives with his wife, 2 children and mother. His mother is provided with a retirement pension. Amiran requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of the low income and his family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have 2 milk cows, whose milk is used in cheese production. In addition, they have a plot of agricultural land where different kinds of vegetables are grown and 5 beehives with bee colonies. They sell the harvested products and cheese locally in an open market at a good price, but it is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistent poor category.

Amiran requested loan from Credo to start-up a business. His loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program envisages provisioning business start-up and re-startup with credits on soft conditions to the rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income.

With the received credit, Amiran will purchase a minibus. After the purchase, he will transport people from his village to Batumi and get a salary. He hopes his project will be profitable and the new business initiative, financed with the 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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,910,475
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Amiran purchase a minibus.
100% repaid
Repayment Term
34 months (Additional Information)
Repayment Schedule
Dec 12, 2012
Jan 3, 2013
Currency Exchange Loss:
Nov 18, 2013