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Levan is 42 years old. He is married and lives with his wife in Bolnisi District. Levan has requested a loan from local financial institutions several times for his family business start-up, but without any success. His loan request was rejected every time because of his low income and his family’s poor living conditions.

The main source of income for the family is from agricultural activities. In particular, they have a plot of agricultural land, where haricot beans and potatoes are grown. Besides that, Levan works as an artisan in the wood workshop and gets small monthly income. It is hardly enough to feed for the family. According to Credo estimations the family belongs to the 'subsistence poor' category.

Levan requested a loan from Credo to start-up a family business. His loan request was approved as one from a new joint initiative between Kiva and Credo. The start-up loan programme envisages the provision of business start-up and re-startup credits with soft conditions to country rural poor, who do not have access to credit products as they are regarded as “high risk borrowers” due to their low income.

With the received credit, Levan plans to open his own workshop, where he will prepare different kinds of wooden furniture. To open a new workshop will enable him to get more orders and increase his sales of wood products. This will increase the income of the family. The new business initiative, financed with the Kiva start-up loan will significantly improve the living conditions of Levan's 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Levan to open a wood workshop and prepare different kinds of wooden furniture.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Feb 13, 2013
Mar 11, 2013
Currency Exchange Loss:
Jun 17, 2014