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Nina is 48 years old. She lives in a small village in Kareli District. Nina applied for loans from local financial institutions several times, for a family business start-up, but without any success. Her loan request was rejected every time because of her low income and her family’s poor living conditions. Nina is involved in agricultural activities. In particular, she has 1.25 hectares of agricultural land, where different kinds of vegetables are grown seasonally. It provides barely enough food for the family. According to Credo's assessment, the family belongs in the "subsistence poor" category. Nina has now been approved for a loan within the framework of the new joint initiative of Kiva and Credo. The start-up loan program envisages provision of business start-up and re-startup credits on 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. The client received the first part (tranche) of the start-up loan, which will be used to buy green bean, tomato and cabbage seeds. Within 30 days after loan disbursement, Credo will monitor the client and, if the loan purpose has been met, will disburse the second tranche, which will be used to hire agricultural workers to help Nina in developing her farming business. After buying the seeds, she will be able to sow them and have a harvest in a few months. The products she harvests will be sold at local markets, and Nina will increase her income. The new business initiative, financed with the Kiva start-up loan, will significantly improve the living conditions of her 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
  • 41
    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 $1,525 helped Nina to buy green bean, tomato and cabbage seeds to improve her farming activities.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Apr 17, 2013
Apr 26, 2013
Currency Exchange Loss:
Jan 18, 2014