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Nana is a 46-year-old woman and lives in the Mtskheta district. She is married and has two grown children who are unemployed at the moment. Her husband is 50 years old and he works as workman in the capital city and has a small monthly income. Nana requested a loan from local financial institutions several times for a family business start-up, without any success. Her loan request was rejected because of low income and the family’s poor living conditions. She has an empty space in her village and plans to open a grocery shop there. According to Credo estimations the family belongs to the subsistence poor category. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provisions of business start-up and re-starts up 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. Nana requested a loan for purchasing stocks of groceries which will help her to start her grocery store. She will reinvest the profits into the shop and will keep adding more products. Nana hopes this project will be profitable and it will help her and her family to have better 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,812,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Nana to buy grocery items for starting her grocery store.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Feb 21, 2013
Feb 24, 2013
Currency Exchange Loss:
Apr 17, 2015