Check out some available loans that are similar to this one!
Tina is a 63-year-old retired woman. She lives in the capital city of Georgia, Tbilisi, with her husband and son. Tina requested a loan from local financial institutions several times for a family business start-up, but without any success. Her loan request was rejected all the time because of low income and the family’s poor living conditions.

Tina has rented commercial space inside the big local market. She is baking pastries, and bringing them out and selling them to get a small daily income. Her husband is working as a security guard on a small salary. The family’s total income is rarely enough for food and covering the household expenses.

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

With the received credit, Tina will purchase a draft beer machine, flour and sausages to have more variety of food. As the summer season is coming soon, Tina hopes that beer will be highly requested and her business will be successful. She also wants to bake more food to give a better choice to her clients. This will help Tina to earn a good profit. She will use part of the profit for reinvesting and purchasing more products and another part for covering her family’s monthly expenses.

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
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $800 helped Tina to purchase a draft beer machine, flour and sausages.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 29, 2013
Apr 15, 2013
Currency Exchange Loss:
Oct 17, 2013