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Raisa, 24 years old, lives with her husband and infant child. Several times, Raisa has requested loans from local financial institutions for her trading business start-up, but without any success, each request rejected because of low income and lack of business experience. The only current source of income for the family is the small monthly money transfer sent by Raisa’s mother, who works abroad to help the family.

Raisa’s loan request was approved within the framework of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of a business start-up, and re-startup credits, with soft conditions to 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 Raisa will set up a small store to sell carpets, curtains and various household items. She will purchase items at wholesale prices and resell them in her store for a profit. It will be hard work for Raisa, but according to estimations, her business will be profitable and will increase the income of the family. Profits will be reinvested in trading to increase her stock and sales volume, and the family will be able to improve their living conditions. Raisa 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $650 helped Raisa to set up a store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 27, 2012
Jan 8, 2013
Currency Exchange Loss:
Jan 18, 2014