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Famil is 33 years old. He is married and lives with his wife and two children in a small village of Marneuli district. The family runs an agricultural business and has milk cows and calves. They produce cheese with the milk and sell it locally.

The main income for the family is his newly started grocery store, selling different types of groceries. It has been a profitable project, but also needs more support to further develop. Several times he has asked for loans from local financial institutions to develop his business, but without success. His loan requests were rejected each time because of their low income.

Famil’s loan request was approved as part of the new joint initiative of Kiva and Credo. The start-up loan program provides business start-ups and re-startups with credit with soft conditions to the rural poor who do not have access to credit products, since they are regarded as “high-risk borrowers” because of their low income. With the received credit, Famil will cover the cost of purchasing needed stock of basic groceries that customers often request. He plans to increase the turnover in his business gradually.

The new business initiative, financed with the Kiva start-up loan, will significantly increase the income of the family. Famil will work hard, and he will be able to improve living conditions for his family. With this loan, his family will generate enough income to access regular available credit products in the country’s capital market, in the event that they need it and also Famil will renovate his house which is old and damaged.

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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,091,775
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Famil to buy more stock of groceries for his newly started store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 13, 2013
Feb 19, 2013
Currency Exchange Loss:
Apr 16, 2014