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Tengiz is 55 years old. He lives in Khoni District with his 50-year-old wife Mzia and retired mother. Tengiz requested loans from local financial institutions several times for the family business start-up, but without any success. His loan requests were rejected every time because of his low income and the family’s poor living conditions.

His family owns a small plot of land where they grow kiwi and sell it locally at the markets. Tengiz’s wife Mzia is a teacher of biology. She has private students and gets a small monthly salary. In addition they have income from Tengiz’s mother’s monthly pension.

Tengiz requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative of Kiva and Credo. Start-up loan program envisages provision of business start-up and re-startup credits with soft conditions to country rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Tengiz wants to purchase counters and anti-parasite drugs. He has a shop where he plans to sell the products. As tilling season is starting soon and people will start cultivating their land, Tengiz hopes his product will be demanded from the locals. As he will work the shop himself and will not have to pay rent, the business will be more profitable. He will reinvest part of the profit into the same business and use the rest for his family's wellbeing.

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
  • 40
    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 $2,200 helped Tengiz to purchase counters and anti-parasite drugs to sell from his shop.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 20, 2013
Mar 27, 2013
Currency Exchange Loss:
Sep 17, 2013