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Nunu is 61 years old from Sagarejo district, East Georgia. She gets orders to sew on a machine. In addition, she has a vineyard and sells grapes seasonally. Nunu requested a loan from local financial institutions several times for the family business start-up, but without any success. Her loan request was rejected each time, because of low income and the family’s poor living conditions.

Nunu requested a loan from Credo for start-up business. Her loan request was approved by a new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the approved loan Nunu will purchase a cow for milking and will build a shed. Nunu plans to produce dairy products and thus increase her income. The new business initiative, financed with the Kiva Start-up loan will significantly improve her 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Nunu to purchase a cow for milk.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 11, 2013
Feb 13, 2013
Currency Exchange Loss:
Mar 17, 2014