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Razhden is 49 years old. He lives in the Telavi district with his 44-year-old wife, retired mother, 21-year-old son and 19-year-old daughter-in-law. Razhden requested a loan from local financial institutions several times for a family business start-up, but without any success. His loan request was rejected all the time because of his low income and his family’s poor living conditions.

The main source of the income for the family is from agricultural activities. In particular, they have two milk cows, one calf, a vineyard and a plot of agricultural land, where fruits and vegetables are grown. Harvested products and the dairy products are sold locally at the markets. Their additional income is from Razhden’s mother’s monthly pension.

Razhden requested a loan from Credo to start-up a family business. Razhden 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, Razhden will purchase a mini-bus. He wants to start trading fruits and vegetables. He will purchase at the wholesale price and resell among the villagers and at the local markets with a price markup. Razhden will be reinvesting the profit in the same business, in order to expand it. This will increase his income and he will be able to improve his 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
  • 72
    View loans »
    Georgia Loans Fundraising
  • $7,714,400
    Funds lent in using Kiva
  • 1.7
    Georgia Lari (GEL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Razhden to purchase a mini-bus.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 19, 2013
May 5, 2013
Currency Exchange Loss:
Nov 18, 2013