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Tamar is 42 years old. She lives in the small village of Martvili District with her four children. Several times, Tamar requested a loan from local financial institutions for a family business start-up, but without any success. Her loan request was rejected each time because of low income and her family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, Tamar has a milk cow, whose milk is used in cheese production. In addition, Tamar has a plot of agricultural land, where persimmon trees and nut trees are grown. The income is hardly enough for food for the family. According to Credo estimations, the family belongs to the 'subsistence poor' category.

Tamar requested a loan from Credo for a start-up family business. Her loan request was approved in the framework of new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits, with soft conditions for the country's rural poor, who do not have access to credit products, being regarded as 'high risk borrowers' because of low income.

With the received credit, Tamar will buy clothing and dishes to sell. Tamar plans to buy at wholesale prices and then resell at a higher price. This will increase the income of the family and she will improve living conditions for her children. 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Tamar to buy clothing and dishes to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 6, 2013
Mar 5, 2013
Currency Exchange Loss:
Dec 20, 2013