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Tariel is 42 years old. He lives in a small village of Didgori District with his wife and two children. Tariel has requested for a loan from local financial institutions several times for the family business start-up, but without any success. His loan request was rejected every time due to his low income and his family’s poor living conditions.

Tariel works as an artisan at a local building company. His wife works as a nurse at the hospital. They both get a small monthly income. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Tariel has requested a loan from Credo to start a family business. His loan request was approved in the frames of a 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 Tariel will purchase two milking cows which he will use to produce dairy products to sell. This will increase the income of the family. 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
  • 42
    View loans »
    Georgia Loans Fundraising
  • $7,901,050
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Tariel to purchase milking cows.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 26, 2013
Apr 8, 2013
Currency Exchange Loss:
Jul 17, 2014