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Aigun is 30 years old. She lives in a small village in Sagarejo District with her husband and two children. Aigun requested a loan from local financial institutions several times for a family business startup, but without any success. Her loan request was rejected all the time because of her low income and her family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have 15 hens and 6 turkeys. In addition, her husband works as an artisan and gets a monthly income. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Aigun requested a loan from Credo to start a family business. Her loan request was approved in the frame of a new joint initiative between Kiva and Credo. The Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Aigun will purchase sheep. After purchasing the sheep, she will be able to expand her livestock and increase the income of the family. The new business initiative, financed with the Kiva Start-up loan, will significantly improve the living conditions of the 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
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Aigun to purchase sheep for her new livestock business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Jan 31, 2013
Feb 27, 2013
Currency Exchange Loss:
Sep 17, 2013