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Shota is 29 years old. He lives in the Telavi district of Georgia with his wife and 4-year-old daughter.

Shota has unsuccessfully requested loans from local financial institutions several times to fund the start-up of his family business. His loan requests were rejected because of his family's low income and poor living conditions. The sources of income for Shota's family are the seasonal income from selling harvested maize grown on the family-owned land. Besides the maize, he raises three pigs and sells piglets.

The income totals 100 laris per month and is hardly enough to provide food for a family of three. According to Credo estimations, the family belongs to the "subsistence poor" category.

Shota requested a loan from Credo to restart his family business, which was stopped because of financial problems. His loan request was approved by a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and restart-up credits with soft conditions to rural poor who do not have access to credit products, since they are often regarded as “high-risk borrowers” because of low income. With the received credit, Shota will purchase a truck to transport wood from the forest. The wood will be sold in his village and in nearby villages. The new business initiative, financed with the Kiva loan, will significantly improve the living conditions of his family.

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
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Shota to purchase a truck to transport wood from the forest.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 28, 2013
Mar 3, 2013
Currency Exchange Loss:
Feb 17, 2014