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Tamaz is 49 years old. He lives in the Rustavi District with his 48-year-old wife, son, daughter-in-law and two grandchildren (7 and 3 years old). Tamaz requested a loan from 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 his low income and the family’s poor living conditions.

Tamaz was trading scrap with his mini-bus. He was going to the Kvemo Kartli region to collect scrap from the locals and was bringing it to Rustavi scrap resellers. Tamaz was earning a very small monthly income, which was not enough to feed his big family.

Tamaz requested a loan from Credo to re-startup the family business. His loan request was approved in the frame of the new joint initiative between Kiva and Credo. The start-up loan program envisages provision of business startup and re-startup credits with soft conditions to country rural poor who do not have access to credit products, being regarded as “high risk borrowers” because of their low income. With the received credit, Tamaz will purchase a mini-bus as his old one broke down and he has to sell it as scrap. After purchasing the new mini-bus, he will be able to continue working in the same business, where he is already very experienced. He needs the loan desperately as his mini-bus was the only source of income for the family. With the re started business, Tamaz will try to work harder and provide better living conditions for 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
  • 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 $2,000 helped Tamaz to purchase a mini-bus.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 25, 2013
Mar 31, 2013
Currency Exchange Loss:
Nov 18, 2013