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Gocha is 32 years old. He lives in Kvarkheti village, Gori district, with his mother, two brothers and two sisters. Gocha requested a loan from local financial institutions several times for family business start-up but without any success. His loan request was rejected all the time because of their low income and the family’s poor living conditions.

The only source of the income for the family is from agricultural activities. They own a plot of land where garlic and apples are grown. The harvested products are sold locally at the markets. They make a very small monthly income which is not enough to feed six family members.

Gocha 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 country rural poor who do not have access to credit products being regarded as “high risk borrowers” because of low income.

With this loan, Gocha will purchase calves. He plans to buy them at a good price, raise them and then sell them with a price markup. With part of the profit, Gocha plans to develop his agriculture and will use the rest for the family's well-being. The new business initiative, financed with a 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,896,375
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Gocha to purchase calves at a good price, raise them and then sell with a price markup.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 14, 2013
Mar 21, 2013
Currency Exchange Loss:
Apr 16, 2014