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Emzar is 27 years old. He lives in Batumi, West Georgia, with his 19-year-old wife, parents-in-law and sister-in-law, who is going to school.

Emzar requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of low income and the family’s poor living conditions.

The only source of income for the family is the small monthly salaries of Emzar and his mother-in-law. He is working at the local market as a miller, and his mother-in-law is working in a retirement house as a cook. Their total income is not enough to feed the five members of the family.

Emzar 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-start-up credits with soft conditions to the country’s rural poor. The rural poor do not have access to credit products, being regarded as “high risk borrowers” because of low income.

With the received credit, Emzar will purchase packages for packing corn flour. He already has a mill and plans to work from there. As Emzar is already experienced in this field, he hopes his new business will be successful and he will be able to sell a lot of packed corn flour to make a good profit.

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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,906,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Emzar to purchase packages for packing corn flour.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 9, 2013
Mar 18, 2013
Currency Exchange Loss:
Apr 16, 2014