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Hamlet is 47 years old. He lives in Orkhevi village near Tbilisi, the capital city of Georgia with his wife Tamar and two daughters who are going to school. Hamlet requested a loan from local financial institutions several times for family business start-up, but without any success. His loan request was rejected all the time, because of low income and family’s poor living conditions.
Hamlet is working at the local market, selling fruits and vegetables. His wife is working at the supermarket and they both get small monthly salaries.
Hamlet requested a loan from Credo to start-up a family business. His loan request was approved in the frames of the new joint initiative of Kiva and Credo. 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 Hamlet will purchase a car and a stock of fruits and vegetables to start trading himself. Hamlet will go to the local market in the capital city, buy products at the wholesale price and sell it to the resellers with the price mark-up in his district. He is already very experienced in this field so he hopes the new business will be profitable. Part of the profit Hamlet will be reinvesting in the same business so he can develop and earn more income for the family. With the increased income Hamlet will be able to provide better living conditions for his family and also provide for his daughters' future education.

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
  • $7,796,600
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Hamlet to purchase a car and a stock of fruits and vegetables to start trading.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Mar 28, 2013
Apr 6, 2013
Currency Exchange Loss:
Feb 17, 2014