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Sopiko is 27 years old, married, and lives in Martkopi with her husband and two infant children. Several times, Sopiko has applied for loans from local financial institutions for her trading business start-up, but without any success. Her loan request was rejected each time because of her low income and lack of experience in her new business. The local credit providers usually insist on prior experience in the business. One source of income for the family is the small monthly income earned by Sopiko, who is involved in a clothing trading business. She buys used clothing and resells these items to her neighbors. Aside from that, her husband works as a taxi driver. Sopiko requested a loan from Credo to start up her own store to sell clothing herself. Her loan request was approved in 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-start credits on 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 income. Sopiko will purchase building materials and build a store. She will buy used clothes for wholesale prices and resell them in her store for a profit. It will be hard work for Sopiko, but, according to estimates, her business will be profitable and will increase the income of the family. The increased profit will be reinvested in clothing to increase her trading stock and sales volume. Sopiko 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
  • $8,094,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Sopiko to start up a clothing store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jan 21, 2013
Jan 23, 2013
Currency Exchange Loss:
Jul 17, 2014