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Shalva is 54 years old and lives in the Ozurgeti District with his wife, son and daughter-in-law. His son is a security guard at private company and gets a monthly salary. Shalva has requested a loan from local financial institutions several times for a start-up, but without any success. His loan request was rejected because of low income and the family’s poor living conditions.

The only source of the income for the family is farming. They have a milking cow, whose milk they use to make dairy products. They also have a plot of land where they grow crops. They sell their products locally, but they earn barely enough to feed the family. According to Credo's estimations, they are in the subsistence poor category.

Shalva has requested loan from Credo and Kiva to start-up a family business. He is applying through a program that targets the rural poor, who do not have access to credit, because their low income makes them “high risk borrowers.” Shalva will use the loan to buy a minibus which he will use to transport people from his village to the town of Ozurgeti. This will increase the income his family earns and significantly improve its living conditions.

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
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Shalva to buy a minibus and transport people.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Mar 8, 2013
Mar 21, 2013
Currency Exchange Loss:
Aug 17, 2014