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Vazha is 51 years old. He lives in Borjomi district with his 51-year-old wife, Eter and 28-year-old son, Dimitri. Vazha requested a loan 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 income for the family is from real estate. Vazha owns a commercial space in the center of Borjomi which is rented. However, the rental amount is not enough to cover the family's monthly expenses.

Vazha requested a loan from Credo for a start-up family business. His loan request was approved through a new joint initiative of Kiva and Credo. Start-up loan programs 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 and being regarded as “high-risk borrowers” because of low income. With the received credit, Vazha will purchase a truck. He already has collected most of the amount and is missing part of it for purchasing. He will be working on transporting different kinds of cargo and earn additional income for the family. This will help them to cover all the monthly expenses and improve their 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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Vazha to purchase a truck.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 27, 2013
Mar 31, 2013
Currency Exchange Loss:
May 17, 2014