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Kakhaber is 26 years old. He lives in Akhaltsikhe district with his 26-year-old wife, Dali. Kakhaber requested loans from local financial institutions several times for a family business start-up but without any success. His loan requests were rejected because of low income and his family’s poor living conditions.
The only source of the income for the family is from trading. Kakhaber has a mini-bus. He goes to the capital city for purchasing factory dairy products at wholesale price. He brings the products to his district to distribute in the local shops with a price markup and earns a small monthly income.
Kakhaber 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-startup credits with soft conditions to the country's rural poor. They do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit,Kakhaber will purchase a car from abroad at a low cost, bring it to Georgia and resell it at a good price. This will give him a good profit which Kakhaber wants to reinvest to start a car business. 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
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Kakhaber to purchase a car from Germany at a low cost for resale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 18, 2013
Mar 24, 2013
Currency Exchange Loss:
Apr 17, 2015