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Guliver is 60-years-old man. He is married and lives with his large family in the Chkhorotsku district. He has wife, son, daughter-in-law and two grandchildren. Each member of the family gets monthly IDP assistance from the government institutions as they are persecuted. Guliver has requested loans from local financial institutions several times for family business start-up, but without any success. His loan requests were rejected all the time, because of low income and the family’s poor living conditions. The family has 2 hectares of agricultural land, where 1200 nut trees are grown. They sell the harvested nuts locally. According to Credo estimations, the family belongs to the subsistence poor category. His loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup 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. With the requested loan, Guliver wants to open a Georgian bread bakery. He owns a commercial space and will buy all the needed equipment. Guliver will bake the Georgian bread himself. Guliver hopes the business will be profitable, as the location is very populous. The new business initiative, financed with the Kiva Start-up loan will significantly improve the living conditions of his family and Guliver will be able to provide for his children’s education in the future.

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
  • 49
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Guliver to open a Georgian bread bakery.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 27, 2013
Mar 4, 2013
Currency Exchange Loss:
Oct 17, 2013