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Pridon is 66 years old. He lives in Senaki District with his 40-year-old son, his daughter in-law and two grandchildren (15 and 10 years old). Pridon 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 his family’s poor living conditions.

The main source of income for the family is from agricultural activities. They own a vineyard and plot of agricultural land where nut trees, maize, and laurel are grown. They also have a milk cow and a calf. The cow is milked to make dairy products, and with the grapes Pridon is making vodka. Harvested produce, together with vodka and dairy products, are sold at the local markets in Senaki district.

Pridon requested a 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. This 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 loan Pridon will purchase an electricity counter for his wood workshop. He is already building the workshop himself and needs electricity to start working in it. Pridon is very experienced in this field as he already was working at a local wood workshop for a small monthly salary. Now that he will have his own workshop, the family income will significantly increase. Part of the profit will be reinvested in the same business and another part used to provide better living conditions.

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
  • 43
    View loans »
    Georgia Loans Fundraising
  • $7,796,600
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,350 helped Pridon to purchase an electricity counter for his wood workshop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 2, 2013
Apr 8, 2013
Currency Exchange Loss:
Mar 17, 2014