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Nodar is 62 years old. He lives in Rustavi District with his wife, son, daughter-in-law and an infant granddaughter. Nodar 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 low income and the family’s poor living conditions.

The only source of income for the family is the income of his wife and daughter-in-law. They both are working as salesladies. In addition, his son works as an artisan and gets 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.

Nodar requested a loan from Credo to start up a family business. His loan request was approved in the frame 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 country rural poor, who do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Nodar will purchase groceries and open a grocery store, as he has a commercial space already. After the store is opened, he will be able to increase the income of the family, which will be more stable and they will have a chance to improve their living conditions. The new business initiative, financed with the Kiva start-up loan will significantly improve the environment 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
  • 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 $1,300 helped Nodar to purchase groceries and open a grocery store.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Mar 28, 2013
Apr 3, 2013
Currency Exchange Loss:
Nov 18, 2013