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Tea is 30 years old. She lives in the Gurjaani District with her husband, Jumber, and four children, ages 2, 6, 8 and 12.

Tea requested a loan from local financial institutions several times for her agricultural business start-up, without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions. According to government estimates, the family belongs to the vulnerable poor category, and they get monthly social assistance.

The family grows strawberries on the family-owned land, and the harvested products are sold at the local open market. In addition, Tea and Jumber are daily workers in local farmers’ fields.

Tea requested a loan from Credo to start livestock farming. Her loan request was approved in the framework of the new joint initiative between Kiva and Credo. The start-up loan program facilitates business start-ups and re-startups with credits with soft conditions for the country's rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the loan, Tea will purchase calves. She will raise them and sell them after several months. Grown calves will be sold for a good price, bringing additional income to the family. For the next cycle, Tea will purchase more calves.

The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Their income will double, and the family members will be able to improve their living conditions.

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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $500 helped Tea to purchase calves.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Jan 17, 2013
Jan 22, 2013
Currency Exchange Loss:
Dec 20, 2013