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Nazi lives in the Kobuleti District. She is 64 years old and lives with her husband, grown son, daughter-in-law, and three grandchildren. The family runs an agricultural business. In particular, they have three calves and a milk cow whose milk is used in cheese products. In addition, Nazi owns a cornfield and a plot of land where nuts are grown. The harvested products are sold at the local open market. Nazi and her husband are provided with a retirement pension.

Several times, Nazi has requested loans from local credit providers, but her loan requests are always rejected because of the lack of experience in new business. Her current 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 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 their low incomes.

With the received credit, Nazi will start up a fast-food café. She will sell sandwiches, pies, and fizzy drinks. Nazi hopes her business will be profitable and that she will attract many customers since there is no similar café nearby. The profit will be reinvested in the same business and Nazi will be able to improve the living conditions of her 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
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Nazi to start up a fast-food cafe.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Jan 9, 2013
Jan 14, 2013
Currency Exchange Loss:
Oct 17, 2014