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Bagrat is 46-year-old married man. He lives in Khelvachauri district with his 41-year-old wife and two children. Bagrat works as a cleaner and his wife works as a cook, so they earn a small amount of monthly salary. The family owns a plot of agricultural land where they grow citrus and vegetables. The harvested products are sold at the local market.

Bagrat is a very hard-working man, and he has been in this business for 21 years. He requested loans from local financial institutions several times for his family business start-up, without any success. His loan requests were rejected because of his low income and the family’s poor living conditions. According to Credo estimations, the family belongs to the "subsistence poor" category.

Bagrat's current loan request was approved through a new joint initiative of Kiva and Credo. The start-up loan program provides start-up and restart-up credit with soft conditions to the rural poor, who are considered “high risk borrowers” and often do not have access to credit products because of their low income. Bagrat has requested a loan to buy a mini bus. He wants to start working on the local bus line, transporting locals from his village to the district. The new business initiative will hopefully increase the family's monthly income and improve their 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,076,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Bagrat to buy a mini bus so he can work on the local bus line.
100% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Feb 18, 2013
Feb 24, 2013
Currency Exchange Loss:
Jun 17, 2014