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Merab is 57 years old and lives in Zestafoni District with his retired mother Lali. Merab requested loans from local financial institutions several times for the family business start-up but without any success. His loan requests were rejected because of low income and his family’s poor living conditions.

Merab owns an agricultural plot of land where he has a vineyard and nut trees. Merab harvests grapes and nuts, makes wine and sells the products locally at the market. According to Credo estimations the family belongs to the subsistence poor category.

Merab requested a loan from Credo to start-up a family business. His loan request was approved in a 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. They do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit, Merab will purchase 500 chicks and chicken food, grow them and sell them at a profitable price locally in Zestaponi markets. Merab will use the profit to reinvest in the same business and in future he will also start selling eggs. The new business initiative, financed with the Kiva Start-up loan will give Merab chance to improve the living conditions and look after his aged mother.

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
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Merab to purchase 500 chicks and chicken food.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Feb 26, 2013
Mar 5, 2013
Currency Exchange Loss:
Jan 18, 2014