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Vera is 42 years old. She is married and lives in the small town of Telavi, with her spouse and 20-year-old daughter. Vera’s husband works as a security guard and earns a small monthly salary. The main income for Vera is her grocery store located in the suburb of Telavi, selling different kinds of groceries. The store has been profitable project, but it needs more support (capital) to further develop. Several times she has asked for loans from local financial institutions to develop her business, but without success. Her loan requests were rejected each time, because of her low income.

Vera’s loan request was approved as part of the new joint initiative of Kiva and Credo, called the Start-up Loan Program. This program provides credit for business start-ups and restart-ups, with soft conditions, to the rural poor who do not have access to ordinary credit products, being regarded as “high-risk borrowers” because of their low income.

With the received credit, Vera will cover the costs of purchasing more inventory, of basic groceries that customers often request. She has already rented a new commercial space, which has a better location. She plans to increase the turnover in her trade business gradually. The new business initiative, financed with the Start-up Loan from Kiva, will significantly increase the income of the family. Vera will work hard, and she will be able to improve the living conditions for her family. With this loan, her family will generate enough income to access regularly-available credit products in the country’s capital market, in the event that they need to.

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
  • 38
    View loans »
    Georgia Loans Fundraising
  • $7,807,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Vera to buy more basic groceries for resale in her grocery store, which she has moved to a better location.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 27, 2013
Mar 2, 2013
Currency Exchange Loss:
Mar 17, 2014