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Saiat is 61 years old. He lives in the village of Chapala, Bolnisi district, with his 56-year-old wife, 33-year-old son and his daughter-in-law. Saiat 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 the family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have a plot of agricultural land where potatoes, cucumbers and tomatoes are grown. Harvested products are sold locally at the markets and the family gets a small monthly income which is not enough to cover their monthly expenses.

Saiat requested a loan from Credo to start-up a family business. His loan request was approved in the framework of 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 credit Saiat will purchase a mini-bus. He will start driving on a bus-line from Marneuli in the direction of Baku. His new business will bring an additional income to the family and help them to improve their 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
  • 40
    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 $3,500 helped Saiat to purchase a mini-bus to work on a bus-line.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Apr 10, 2013
Apr 13, 2013
Currency Exchange Loss:
Feb 17, 2014