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Lela is 46 years old. She lives in Dzirkoki village, Gurjaani District with her husband Sergo, their three children and her retired mother in-law. Lela has requested a loan 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 family owns a vineyard. With the harvested grapes they make wine and vodka. The products are sold locally at the markets. They also have a horse which is rented out seasonally for a small income. Additional income for the family comes from Lela’s mother in-law’s monthly pension.
Lela requested a loan from Credo to start-up a family business. Lela 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 the 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 her credit Lela will start trading with fruits and vegetables. She will purchase a car and agricultural products from the reseller in Gurjaani district, bring the products to the capital city of Georgia, Tbilisi, and sell at the local market. Part of the profit Lela will use for reinvesting in the same business and develop her trading. Another part she will use for the family. 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
  • $7,908,800
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,125 helped Lela to purchase a car and fruit and vegetables for trading.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Apr 24, 2013
Apr 29, 2013
Currency Exchange Loss:
Jan 17, 2015