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Paata is 47 years old. He lives in the Marneuli District with his wife, Ina, and two sons: 25-year-old, Guram, and 14-year-old, Otar, and they all go to school. Paata requested a loan from some 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 having a low income and his family’s poor living conditions.

Paata is an artisan. He is working on some private-order renovations. In addition his older son, Guram, is a distributor, and they both get a small monthly income that is not enough to feed the family.

Paata requested a loan from Credo to start up a family business. His loan request was approved in the frames of a new joint initiative between Kiva and Credo. The start-up loan program envisages the provision of business start-up and re-startup credits with soft conditions to the country's rural poor, which do not have access to credit products, being regarded as “high-risk borrowers” because of their low income. With the received credit, Paata plans to open a restaurant. As he has a commercial space, Paata will not have to pay the rent. He will only need to purchase some materials for the renovation, which will be done by him. This will reduce the cost, increase his profit, and Paata will have a source of income. This new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of his 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,802,825
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Paata to purchase some materials for the renovation of a commercial space and open a restaurant.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 15, 2013
Mar 22, 2013
Currency Exchange Loss:
Apr 16, 2014