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Avtandil
Avtandil is 57 years old. He lives in Terjola District with his 55-year-old wife, Maro. Avtandil requested a loan from local financial institutions several times for a 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.

Avtandil and his wife are farmers; they have 22 pigs, and they are selling piglets at the local markets. Also, they own a vineyard, and with the harvested grapes, he makes wine and vodka and sells it locally at the markets, which gives them a small monthly income. According to Credo estimations, the family belongs to the subsistence poor category.

Avtandil requested a loan from Credo to start up a family business. His loan request was approved in the framework of 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 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, Avtandil will start a poultry business. In particular, he will purchase chicks and chicken food. He already has a coop where he plans to keep them. After the chicks are grown, Avtandil will sell eggs and chicken. This will increase the income of the family, and he will reinvest the profit in his agricultural business. 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
  • 32
    View loans »
    Georgia Loans Fundraising
  • $7,796,325
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Avtandil to purchase chicks and chicken food.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 27, 2013
Listed
Mar 8, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014