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Ramin is 59 years old. He is married and lives in the Martvili District with his wife and 12 year old son. Ramin requested loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected because of low income and family’s poor living conditions.
Ramin is involved in agricultural activities. In particular, he has 2 milk cows and a pig. Besides, he has 500 nut trees and a vineyard with 200 vine trees. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.
Ramin requested a loan from Credo to start-up a family business. His 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-startup credits with soft conditions to the country’s rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Ramin will purchase chickens to start a poultry farm. He will place the chickens in a shed located in their yard. He will raise them and sell them for a higher price. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of the 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
  • 50
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Ramin to start a poultry farm.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 6, 2013
Mar 4, 2013
Currency Exchange Loss:
Sep 17, 2013