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Irine is 40 years old. She lives in the Batumi district with her mother, brother, sister-in-law and an infant nephew. Irine has requested a loan for her family business start-up from local financial institutions several times, but without any success. Her loan request was rejected each time because of her low income and her family’s poor living conditions.

Irine’s brother works as an artisan and her sister-in-law works at a local restaurant as a waitress. They both earn a small monthly income. It is hardly enough food for the family. According to Credo's estimates, the family belongs in the subsistence poor category.

Irine requested a loan from Credo to start up a family business. She has now been approved for a loan within the framework of the new joint initiative between Kiva and Credo. The start-up loan program envisages providing business start-ups credit 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 this credit Irine will purchase a car. After purchasing a car, she will be able to supply her newly opened restaurant with supplies. Irine has chosen a very good place in the centre of Batumi, where a large number of people live. She hopes the business will be profitable. The new business initiative, financed with a 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
  • $8,091,775
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $2,500 helped Irine to purchase a car and use it to supply her restaurant.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Apr 16, 2013
Apr 24, 2013
Currency Exchange Loss:
Nov 18, 2013