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David is a 30-year-old man living in the Gurjaani district of Georgia, with his 29-year-old wife Marina and their two children. David works as a driver on the Gurjaani-Tbilisi mini-bus line. He has previously asked for loans from local financial institutions to start up a business, but has always been unsuccessful. The financial institutions rejected him because of his low income and poor living conditions. David’s wife cannot work because she is looking after the babies, so the only source of income for the family is David's small monthly salary. According to Credo's estimations, the family belongs to the "subsistence poor" category.

David asked for a loan from Credo to start up a family business, and it was approved within the framework of new joint initiative between Kiva and Credo. The start-up loan program is intended to lend capital with soft conditions to the rural poor, so they can start up businesses. They would not otherwise have access to credit products as they are regarded as “high risk borrowers” due to their low income.

David plans to buy the rights to work on the mini-bus line with the loan, which means that he will not have to pay rent as he is currently doing. He will own the line, and won’t have to share the income with anybody. David should therefore get a higher income than before, and this will significantly improve the living conditions of his family. David dreams of being able to provide a better life for his children.

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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $4,000 helped David to buy permeation on the mini-bus line.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Feb 28, 2013
Mar 4, 2013
Currency Exchange Loss:
Apr 17, 2015