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Nino is 61 years old. She lives in a small village in Kaspi District with her husband. Nino applied several times to local financial institutions for loans for a family business start-up, but without success. Her applications were rejected every time because of her low income and the family’s poor living conditions.
The only source of income for the family are the monthly pensions of Nino and her husband. This is hardly enough to provide food food for the family. According to Credo’s evaluations, this family belongs to the category of the subsistence poor. Nino applied for a loan from Credo to start up her family business. Her loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages providing business start-up and re-start credits on “soft” conditions to the country’s rural poor, who do not have access to credit products because they are regarded as “high risk borrowers” based on their low income levels. Nino will use the credit she receives to buy a milk cow. After buying the cow, Nino will be able to produce dairy products. This will increase the family’s income. 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Nino to purchase a milk cow and start a dairy products business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 13, 2013
Mar 22, 2013
Currency Exchange Loss:
Apr 16, 2014