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Nino is 26 years old. She lives in the Akhaltsikhe district with her 29-year-old husband, mother in-law and two children who are 10 years and 6 months old respectively. Nino requested a loan from local financial institutions several times for a family business start-up, without any success. Her loan request was rejected because of low income and the family’s poor living conditions.
Nino sells perfumes. She is buying products at wholesale prices from the capital city, bringing it to her village and selling it among the locals at an increased price. Her husband is an artisan. He works on private orders and gets a small monthly salary. The total family income is not enough to cover their monthly expenses.
Nino requested a loan from Credo to start-up a family business. Her loan request was approved in the frames of new joint initiative of Kiva and Credo. The start-up loan program envisages provisions of business start-up and re-startup credits with soft conditions to the country’s rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Nino will purchase stock of perfumes. With the increased stock she will not have to go to the capital city so often. Also she will be able to offer a better choice of products to her clients. This will decrease her expenses and increase her income. She will use part of the profit for reinvesting and expanding her business and the other part will be used to provide better living conditions for her 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
  • 54
    View loans »
    Georgia Loans Fundraising
  • $8,096,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $350 helped Nino to purchase stock of perfumes.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 29, 2013
Apr 5, 2013
Currency Exchange Loss:
Dec 20, 2013