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Leri is 63 years old. He lives in the Baghdati District with his wife. Leri requested a loan from local financial institutions several times for the family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. In particular, they have six milk cows and a pig. Besides, Leri has a vineyard. It is hardly enough food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Leri requested a loan from Credo to start up a family business. His loan request was approved in the frame of the new joint initiative between Kiva and Credo. The start-up loan program envisages 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, Leri will build a mill. After building the mill, he will serve the local farmers and grind cereals. He will get fees and increase the income of the family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the 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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,906,225
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Leri to build a mill.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Dec 31, 2012
Jan 7, 2013
Currency Exchange Loss:
Aug 17, 2013