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Tamaz is 61 years old. He lives in the village of Dzirula, Zestaponi District, with his 52-year-old wife; three children; daughter-in-law; and two grandchildren, 7 and 5 years old. Tamaz has requested a loan from local financial institutions several times to start-up a family business but without any success. His loan requests are rejected all the time because of his low income and the family’s poor living conditions.

The main source of income for the family is from agricultural activities. They have a milk cow and pigs. The cow is milked every day to make cheese and from the pigs they get piglets. The family also owns a vineyard and they make vodka. All the products and piglets are sold locally at the markets. In addition, Tamaz has a truck and he is working on private orders to transport different cargo to earn a small monthly income.

Tamaz requested loan from Credo to start-up a family business. Tamaz has now been approved for a loan within the framework of a new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and restart-up credits with soft conditions to rural poor people who do not have access to credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With his credit, Tamaz will purchase pottery and wooden wares from the wholesalers at a low cost. He already has a commercial space in the center of a local market which he will use as a shop. The products will be sold with a price markup from his shop and Tamaz will earn additional income for his family. He will reinvest part of the profit in the same business and use another part for his family's well-being. 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
  • 36
    View loans »
    Georgia Loans Fundraising
  • $7,912,575
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $925 helped Tamaz to purchase pottery and wooden wares from the wholesalers.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 16, 2013
Apr 24, 2013
Currency Exchange Loss:
Apr 16, 2014