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Tengiz is 52 years old, and from the Zestaponi district. He lives with his wife, son, daughter-in-law and three grandchildren.

Tengiz works as a builder when he gets orders. Tengiz requested a loan from local financial institutions several times for a family business start-up, without any success. His loan request was rejected every time because of low income and the family’s poor living conditions.

The family runs an agricultural business. Specifically, they have two milk cows, and use the milk for cheese production. They sell cheese locally, in an open market at a good price. In addition, Tengiz has a minibus and transports people to get a monthly income.

It is hardly enough for food for the family. According to Credo estimations, the family belongs in the subsistence poor category.

His loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-ups and re-startups, with credits for soft conditions to the country rural poor, who do not have access to credit products, since they are regarded as “high risk borrowers” due to low income.

With the received credit, Tengiz will buy a new minibus, as the existing one is amortized and needs renovation, and the renovation expense exceeds the income of the family. He plans to buy new one, and satisfy his customers with a comfortable minibus. 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

  • $4,600
    Average annual income
  • 62
    View loans »
    Georgia Loans Fundraising
  • $6,854,250
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Tengiz to buy a minibus.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Dec 27, 2012
Jan 4, 2013
Currency Exchange Loss:
Nov 17, 2014