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Pikria is 31 years old. She lives in Ikalto village, Telavi district, with her 32-year-old husband, Besik, and her retired mother-in-law. Pikria 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.

Pikria and her husband are working, receiving small monthly salaries. She is an accountant at the local factory, and Besik is an artisan and works on house renovations for private orders. The family also runs an agricultural business. In particular, they have a vineyard and a milk cow. The cow is milked every day to make dairy products, and these are sold with the harvested grapes, at local markets. The family receives some additional income -- specifically, Pikria’s mother-in-law’s monthly pension.

Pikria requested a loan from Credo to start up a family business. Pikria 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 credits, with soft conditions, to rural poor people who do not have access to other credit products. These rural poor people are regarded as “high risk borrowers” because of their low income.

With her credit, Pikria will purchase a truck. Her husband will be driving the truck and transporting cargo on private orders. This will help them to earn additional income for the family. The profit will be used for expanding the agricultural business. 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
  • $8,073,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Pikria to buy a truck and start up a cargo transportation business.
100% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
May 2, 2013
May 11, 2013
Currency Exchange Loss:
Dec 17, 2014