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Marine is 34 years old. She lives in the Chiatura district with her husband, brother, aunt and retired grandmother. Marine requested loans 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.

The main source of income for the family is from agricultural activities. In particular, they have a milk cow and a plot of land. On the land different kinds of vegetables are grown. They milk the cow to make cheese and sell it with the harvested products locally at the markets. Marine’s husband works at the railway station and her aunt is trading with fruits and vegetables. They both get small monthly salaries, which is not enough to feed a five-member family.

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

With the received credit Marine will start trading with clothes. She will go to Turkey, purchase clothes at the wholesale price and bring them to her district. She will be selling clothes among her villagers with a price markup to earn a good profit. She will reinvest part of the profit in their field and bring home more clothes in order to develop the business. Another part will be used for purchasing household goods and improving the family's living conditions.

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
  • 44
    View loans »
    Georgia Loans Fundraising
  • $8,094,625
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Marine to start trading with clothes.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 2, 2013
Apr 20, 2013
Currency Exchange Loss:
May 17, 2014