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Gela is 40 years old. He lives in the Gardabani District with his wife, sister, retired mother, and two children (three and four years old). Gela requested a loan from local financial institutions several times for his family's business start-up, but without any success. His loan request was rejected each time, because of their low income and poor living conditions.

The main source of the income for the family is from agricultural activities. They have two milk cows. The cows are milked every day and family makes dairy products, which are sold locally at the markets. Gela’s sister is working at the local shop as a seller and gets a small monthly salary. Additional family income is from Gela’s mother’s monthly pension.

Gela requested a loan from Credo to start-up the family business. Gela 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 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, Gela will purchase chicks. He already has cages ready and will raise them. After the chicks are grown they will be sold at the local markets, and Gela will earn a good profit. He will reinvest part of the profit in the same business, in order to develop their poultry, and he will use another part for the 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
  • 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 $3,000 helped Gela to purchase chicks.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Apr 22, 2013
Apr 27, 2013
Currency Exchange Loss:
Aug 17, 2013