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Aleksandre is 42 years old. He lives in the Gurjaani District with his parents, brother, sister in-law, and an infant nephew. Aleksandre requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected each time,because of his low income and the family’s poor living conditions.

His family owns a vineyard and small plot of agricultural land. Aleksandre and his father harvest grapes to make wine that they sell locally at the markets. They earn a small monthly income which is the only source of income of the family. According to Credo estimations, the family belongs to the subsistence poor category.

Aleksandre has requested 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 as they are regarded as “high risk borrowers” because of low income.

With the received credit Aleksandre will purchase melon saplings. He and his father will cultivate land to sow melons to harvest and sell locally at the markets. The profit will be used to reinvest in the same business and he will sew more melon which will increase the family income. The new business initiative, financed with the Kiva Start-up loan will give Aleksandre a chance to 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
  • 55
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $325 helped Aleksandre to purchase melon saplings.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Feb 28, 2013
Mar 11, 2013
Currency Exchange Loss:
Sep 17, 2013