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Ramaz is 33 years old, married, and has two children who attend school. His parents also live with him in Ditsi village, Gori district. The family has a milk cow which is milked to make cheese which is sold locally at the markets. They also own a plot of land where they grow haricot, maize, and tomatoes. The harvested products are sold among their villagers and they receive a small monthly income.

Ramaz requested loans from local financial institutions several times for a family business start-up, but without any success. His loan requests were always rejected because of low income and the family’s poor living conditions. Ramaz is requesting a loan from Credo to start a family business. The Kiva/Credo start-up loan program envisages provision of business start-ups and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income.

Ramaz will use the loan to purchase liquid gas to fill up his gas containers which will be installed in his car. In their village, there is no gas installed in the houses, so he will fill up the big containers and help his villagers to charge their small gas balloons, which is used mainly for cooking. Ramaz is very experienced in this field as he had this business before and still has the containers, which will economize his expenses and grow the profit. Part of the profit will be reinvested in the same business and another part used to cultivate more land and plant more vegetables. 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
  • $8,091,775
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,125 helped Ramaz to purchase a liquid gas.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Mar 13, 2013
Mar 25, 2013
Currency Exchange Loss:
Jan 22, 2015