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Irakli is 37 years old. He is married and lives in the Baghdati District with his wife, two infant sons, and parents. Irakli requested a loan from the local financial institutions several times for a family start-up business, but without any success. His loan requests were always rejected due to low income and the family’s poor living conditions.

The only source of income for the family is from agricultural activities. In particular, they have 3 milk cows, a pig, and a vineyard. They sell cheese products and wine locally. It is hardly enough to provide food for the family. According to Credo estimates, the family belongs to the subsistence poor category.

Irakli’s loan request to Credo was approved in the framework of a joint initiative of Kiva and Credo. The start-up loan program envisages the provision of credits with soft conditions to country rural poor. This group does not have access to credit products, as they are regarded as “high-risk borrowers” due to low income.

With the received credit, Irakli will build a greenhouse. Irakli plans to sow tomatoes and greens in his greenhouse, which will be sold locally at a good price. This will increase the income of their family. 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
  • 37
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Irakli to build a greenhouse in order to grow tomatoes and greens.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 20, 2013
Mar 11, 2013
Currency Exchange Loss:
Mar 17, 2014