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Giulsanam is 56 years old. She lives in the Gardabani district with her 26-year-old son, her daughter in-law, and two grandchildren. The family earns an income from agricultural activities. They cultivate greens and vegetables on a plot of land and sell their harvested products at local markets to earn a small profit which is rarely enough to feed the family. Giulsanam has requested loans from local financial institutions several times for a family business start-up without any success. Her loan request is always rejected because of her low income and the family’s poor living conditions.

Giulsanam is requesting a loan from Credo to purchase a cow and a calf. She will milk the cow to make dairy products to sell at the market and increase her family's daily income. Giulsanam will slaughter the calf when it is grown and sell the meat to earn additional income. 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 rural poor who do not have access to credit products as they are regarded as “high risk borrowers” because of low income. Giulsanam's new business initiative, financed with her Kiva start-up loan, will 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,906,225
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Giulsanam to purchase a cow and a calf.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 3, 2013
Apr 14, 2013
Currency Exchange Loss:
Oct 17, 2013