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Nana is 36 years old. She lives in the Gori District with her aunt and six year old daughter. Nana has requested a loan from local financial institutions several times for a family business start-up, without success. Her loan request was rejected each time, due to low income and the family’s poor living conditions.

Nana works a nurse at local private clinic. In addition, she is a part-time music teacher at a local school. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Nana has requested loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start-up loan program has a provision for business start-up and re-startup with credits with for soft conditions to the country rural poor who do not have access to credit products, as they are regarded as “high risk borrowers” because of low income.

With the received credit, Nana will sell cheese products. She will purchase cheese products from wholesalers, and will resell at a higher price. With another part of the credit she plans to sell laundry soap.

Nana is a very hard working woman, and she will do her best to increase the income of her 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Nana to start a business selling cheese products and laundry soap.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Feb 11, 2013
Feb 11, 2013
Currency Exchange Loss:
Mar 19, 2015