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Siraj is 53 years old. He lives in the small village of Lagodekhi with his wife and three children. Siraj has requested loans from local financial institutions several times to start a family business, but with no success. His loan requests were rejected, because of low income and the family’s poor living conditions.
The only source of the income for the family is from agricultural activities. In particular, they have greenhouse, where cucumbers and tomatoes are grown. They sell the harvested products locally. Besides, they have a plot of agricultural land, where potatoes are grown. It is hardly enough to provide food for the family. According to Credo estimations the family belongs to the subsistence poor category.
Siraj requested a loan from Credo to start-up a family business. His loan request was approved in the frames of new joint initiative between Kiva and Credo. The start-up loan program envisages provisions of business start-up and re-startup credits with soft conditions to the country’s rural poor, which do not have access to credit products, being regarded as “high risk borrowers” because of low income. With the received credit Siraj will purchase a horse. Siraj will go to the local forest and bring wood from the forest with horse. They will sell the collected wood in the village and earn an income. The wood is mainly used by the village population in the oven to heat the houses and cook. 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
  • 39
    View loans »
    Georgia Loans Fundraising
  • $7,906,225
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Siraj to purchase a horse and to help haul wood from the forest to sell in the village.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Apr 12, 2013
Apr 18, 2013
Currency Exchange Loss:
Nov 18, 2013