Check out some available loans that are similar to this one!
Sergo is 51 years old. He lives in Batumi with his mother-in-law, his wife and their 15-year-old son, who goes to the local school. Sergo’s mother-in-law is a pensioner. Sergo’s economic activity is his newly-started business - a bakery where traditional Georgian bread is baked. Sergo sells the bread from the bakery.

He has requested a loan from local financial institutions several times for business expansion, but he hasn't had any success because of lack of experience in his business. Sergo has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to rural poor people who do not have access to credit products. These rural poor are regarded as “high risk borrowers” because of their low income.

With his credit, Sergo will purchase flour and wood for baking bread. He will bake more bread and sell for a good price. This will increase his sales volume. This new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of his 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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $7,931,175
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $450 helped Sergo to purchase flour and wood for baking bread.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jan 23, 2013
Jan 28, 2013
Currency Exchange Loss:
Dec 20, 2013