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Pridon is 53 years old. He lives in the village of Gora, Vani District, with his retired brother and sister and nephew. Pridon has requested a loan from local financial institutions several times for family business start-up 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 this family is from agricultural activities. In particular, they have two milk cows, a vineyard and a plot of land where nut trees and vegetables are grown. The cows are milked every day to make dairy products. Harvested vegetables and grapes are sold with the dairy products locally at the markets and the family earns a small monthly income.

Pridon requested a loan from Credo to start-up a family business. Pridon 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 restart-up 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 his credit, Pridon will purchase all the needed materials to build a greenhouse. With the greenhouse, he will be able to sell vegetables not only in summer but wintertime too. This will significantly increase the family income. With the increased income, Pridon will be able to expand his agricultural business and improve the family's living conditions.

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
  • 35
    View loans »
    Georgia Loans Fundraising
  • $7,908,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Pridon to build a greenhouse.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 30, 2013
May 4, 2013
Currency Exchange Loss:
Jun 17, 2015