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Koba is 48 years old. He lives in Kutaisi, West Georgia with his son Revaz, 21, and Natia, eighteen; they both are students. Koba requested a start-up loan several times from local financial institutions but without any success. He was rejected due to his low income and the family’s poor living conditions.

Koba has an iron workshop. He gets small orders for the production of iron goods. His income, however, is too small to cover monthly expenses.

Then Koba applied for a 1200 USD loan from Credo. His loan request has been approved within the framework of a new joint initiative between Kiva and Credo. Their start-up loan program will provide credit to the rural poor, who do not have access to loans for those regarded as high-risk borrowers due to their low incomes.

With his loan Koba will buy more iron for his workshop. As he is very experienced and well known among the locals, with a bigger stock he will be able to get more orders and produce such goods as gates, beds and railings. The increase in business will bring more income to the family, enabling Nugzar to reinvest in his workshop and cover more of the family’s monthly expenses.

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 $1,200 helped Koba to buy more iron for his workshop.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Mar 29, 2013
Apr 5, 2013
Currency Exchange Loss:
May 17, 2014