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Bondo is 49 years old from Senaki District. He lives with his wife, 17-year-old daughter and mother, who is provided with a retirement pension. Bondo 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 family’s poor living conditions.

Each member of the family gets monthly income, 28 Laris (GEL) per person, from the government institutions, as they are persecuted. It is hardly enough for food for the family. According to Credo estimations the family belongs to the subsistence poor category.

Bondo requested loan from Credo to start-up a family business. His loan request was approved in the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-start-up 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 Bondo will renovate his car and after the car is renovated he will be able to serve local people as a taxi driver. This will give him a chance to increase the income of his 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
  • 40
    View loans »
    Georgia Loans Fundraising
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $600 helped Bondo to renovate his car and work as a taxi driver.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 28, 2013
Apr 8, 2013
Currency Exchange Loss:
Apr 16, 2014