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Suren is 51 years-old. He lives in Ninotsminda District with his 49 year-old wife and 23 year-old son. Suren has requested loans from local financial institutions several times in order to start-up a family business but without any success. His loan requests have always been rejected because of his low income and the family's poor living conditions.

The main source of income for the family is from agriculture and they have a plot of land where potatoes are grown. They also have pigs. Pigs are sold as a meat with the harvested potatoes at local markets.

Suren requested a loan from Kiva partner Credo in order to start a family business. His loan request was approved through a new joint initiative between 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 and are regarded as high risk borrowers due to low income.

With the loan Suren will purchase a car. He will drive it as a taxi to transport villagers. With the new business Suren will be able to earn additional daily income and provide better living conditions for his 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
  • $8,073,000
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Suren to buy a car and drive it as a taxi.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 13, 2013
Apr 17, 2013
Currency Exchange Loss:
Feb 17, 2015