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Liana is a 65-year-old retired woman. She lives in Persati village in the Baghdati district with her retired husband, her 41-year-old son, her daughter-in-law and two grandchildren who are going to school. Liana requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

The main source of income for the family is from agricultural activities. They have a vineyard. From the harvested grapes Liana’s husband makes wine to sell locally at the markets. They also have 2 pigs and 50 rabbits. From the pigs they sell piglets, and rabbits are sold to the restaurants as a meat. The total family income is rarely enough to cover their monthly expenses.

Liana requested a loan from Credo to start up a family business. Her loan request was approved within the framework of a new joint initiative of Kiva and Credo. The Start-up loan program envisages the 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, Liana will purchase 40 beehives with bee colonies. She wants to expand this business, and after selling the honey, part of the profit will be reinvested. Liana will increase the number of bee colonies and produce more honey. Increased income will help her to significantly improve the living conditions of 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
  • 41
    View loans »
    Georgia Loans Fundraising
  • $7,896,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $4,000 helped Liana to purchase 40 beehives with bee colonies.
70% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Mar 30, 2013
Apr 6, 2013
Currency Exchange Loss: