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Sopio is 32 years old. She lives in the Chiatura district with her ten-year-old son. Sopio had requested a loan from local financial institutions several times for a family business start up, without any success. Her loan request was rejected every time because of low income and the family’s poor living conditions.

The only source of the income for the family is the monthly salary earned by Sopio as a sales lady at a flower shop. It is hardly enough for food for the family. According to Credo estimations, the family belongs to the subsistence poor category.

Sopio requested a loan from Credo to start up a family business. Her loan request was approved in the framework of a new joint initiative between Kiva and Credo. The start up loan program envisages provision of business start ups and re-startups with credits for soft conditions to the country rural poor, who do not have access to credit products, since they are regarded as “high risk borrowers” because of low income.

With the received credit, Sopio will open her own flower shop. As she is experienced in this field, she hopes the business will be profitable and she will be able to increase her income. The new business initiative, financed with the Kiva start up loan, will significantly improve the living conditions of the 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
  • 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 $1,300 helped Sopio to open a flower shop.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 29, 2013
Apr 15, 2013
Currency Exchange Loss:
Sep 17, 2014